"Revenue taken by Facebook, Linkedin and other social media platforms is predicted to be over $50bn this year, according to research from TradingPlatforms.com and Statista. Their report claims revenue from display advertising alone will grow 16.7% this year, compared to 2020. That's a fairly sized packet - for context, Jeff Bezos is said to have spent $5.5bn to get himself into space this week."
"New figures on consumer spend intentions from Integral Ad Science suggests the public is getting ready to loosen the purse strings as restrictions lift in England. Unsurprisingly, consumers highlighted dining out, travel and entertainment as priorities. The company surveyed 500 UK consumers in June 2021. 92% said they planned to keep at least one of the habits picked up during lockdown, with almost half (49%) saying they'd keep using online shopping as a primary means of consumption, and 45% saying they'd never go back to cash."
"Creative England and the Creative Industries Federation have published a report, The UK Creative Industries, which contains some sobering stats - including a calculation that 100,000 jobs and £12bn in gross value added (GVA) were lost during the pandemic. Freelancers were affected five times as much as permanent staff. Advertising and marketing are estimated to have lost £1.9bn in GVA and as many as 11,000 jobs in the UK; the report suggests"
Social media platforms including Facebook and Linkedin are predicted to take over $50 billion in revenue this year, with display advertising revenue projected to grow 16.7% year-on-year. Integral Ad Science finds UK consumers intend to increase spending as restrictions lift, prioritizing dining out, travel and entertainment; 92% will keep at least one lockdown habit, 49% will continue using online shopping, and 45% will avoid cash. Creative England and the Creative Industries Federation estimate the pandemic cost the UK creative industries 100,000 jobs and £12 billion in GVA, with freelancers hit five times harder and advertising and marketing losing £1.9bn and up to 11,000 jobs.
Read at The Drum
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