By Jonathan BakerContributor: Hailey Lipiec, Social Media Manager at EGC With the finish of the Olympic Games of 2024, another competition deserves examining. Right now, a variety of digital platforms seek to attract as much user attention as possible. Which platforms are competing, and how much of a price are marketers willing to pay—literally—for ad exposure? The platforms and prices A recent e-Marketer report claimed that, collectively, marketers will spend a whopping figure of approximately $390 billion on ads in 2024. More than half of this sum will be spent on advertising to well-known media and entertainment platforms. Why such a huge investment? Time counts. Lot of time on select platforms Findings show that a good percentage of adults in the U.S. spend just over 12-and-a-half hours on select platforms. Yes, these users collectively spend half of their days and nights browsing, watching, and engaging with these well-known six sites: Meta, YouTube, Netflix, Spotify, TikTok, and Hulu. The unusual twist to this trend is the widely varying ad spending sums that e-Marketer calls “misaligned.” This is particularly true in the case of Meta, which leads in a very tight competition among the first three platforms… Image Credit: e-Marketer Meta Just edging out YouTube by one percentage, Meta takes the lead among platforms where users spend most of their time. Interestingly, the platform is spending a lot of money on digital ads. (This may be due to advertising not just on Facebook, but Instagram, WhatsApp, and Threads as well.) YouTube Occupying 7.4 percent of user viewing time, this platform applies 5.6 percent of digital ad spend. Considering how close the video-centric site is to Meta in terms of popularity, many may well wonder if YouTube will in time take the lead. Netflix In third place at 7.3 percent, Netflix has the distinction of spending the least amount of money on advertising. With three ad formats—one of which is ad-supported—this giant in the streaming video space is uniquely positioned as being cost-effective while also attracting considerable user attention. Spotify Giving equal time to audio platforms, this podcast favorite has also not invested a lot into its ad dollars budget. With an array of subscription plans, ranging from $5.99 to $16.99 per month, users have enough of a choice to pick and choose how many—or few—advertisements they are willing to hear. TikTok The popular video site is nearly matched when length of time users watch is compared to how much is spent on advertising. Considering the ongoing debate as to whether a TikTok ban may someday go into effect, marketers may be tracking customer usage and adjusting their budgets accordingly. Hulu This video platform offers everything from “Murders in the Building” to a Brat Pack retrospective. It is also economical where ad spending is concerned. Could Hulu someday be equal to Netflix, its closest competitor on this list? Time—and ad dollars—will tell. Regardless of platform popularity or any changes that might take place, digital advertising continues to drive brand exposure and revenue. If you want to boost your brand’s visibility via digital advertising, contact EGC. From resources that include an in-house Content Studio to a team of rockstar social media specialists, we will help get your brand seen and sought after.
