Chantilly, Va.—Spending on social advertising continues to grow, in particular for location-oriented campaigns, according to marketing consultancy BIA/Kelsey's “U.S. Local Media Forecast, 2012-2017: Social Local Media” report.
Social advertising revenue totaled $4.7 billion in 2012 and is expected to rise to $11.0 billion in 2017, a compound annual growth rate of 18.6%, the report said.
The study projected that social advertising expenditures will grow faster, at a 26.4% CAGR, to $3.6 billion in 2017 from $1.1 billion in 2012. Aiding this growth are improvements in how small-to-midsize businesses upload ads, target local audiences and manage social campaigns.