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Who’s spending big on social media advertising?
This week, during the unveiling of Q2 results, Facebook announced its revenues had increased by 45% year-on-year, up to an eye-watering £7.09bn between the period of April and June. Advertisement. Profits climbed 71% to $3.9bn, driven almost entirely by a stratospheric increase in advertising spend. Across all social networks, advertising spend is on the rise; even Twitter which, despite a disastrous Q2 results announcement, saw advertising revenue exceed the $458.1 million estimate, hitting $489m for the quarter.
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