Advertisers’ spend on digital formats worldwide is predicted to increase 17.4 percent to $583.92 billion according to a recent forecast from eMarketer. That represents 38.3 percent of the world’s entire ad budgets.
Almost half of that money will go to Google and Facebook. According to eMarketer, Google will likely make $72.69 billion in ad revenues this year while Facebook will make $33.76 billion. For mobile formats, Facebook and Google take up more than half of worldwide mobile ad revenue.
eMarketer predicts Snapchat will increase revenues to $900 million this year, an increase of 163.3 percent but a small piece of the pie compared to the major players.
eMarketer analyst, Shelleen Shum: “In the immediate future, the only other potential rivals to Facebook and Google are the big 3 Chinese companies, Baidu, Alibaba and Tencent (BAT), who are riding on a wave of rising disposable incomes and a growing tech savvy population in China. The BAT companies are expected to experience resilient digital and mobile ad revenue growth as they start to fully monetize their various advertising products.”
Alibaba, Baidu and Tencent are projected to collectively make $35.82 billion from advertising this year.