Social media sites have been in the news a lot lately for some serious problems regarding privacy, ad fraud, and a variety of other things. Facebook even had to testify to congress about how they handle customer data. Despite that, however, advertisers are still flocking to these sites to promote their products and services.
According to a recent report on the major social media site’s advertising, the revenue being produced has gone up very significantly. The following is the ad growth for Q1 for each of the top social media platforms:
- Snapchat – 234%
- Instagram – 136%
- LinkedIn – 66%
- Facebook – 62%
- Pinterest – 41%
This is growth year over year. Advertising has dropped from Q4 of 2017, but that is due to the fact that Q4 includes holiday advertising, which can drive numbers up significantly.
All this shows that while the reputation of these companies may be in question, their ability to produce results really is not. In addition, it is a good indication that even if consumers are upset with how their data is used, not very many of them are actually quitting these platforms.
