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.
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.
So which platforms are experiencing the greatest spikes, and which industries are driving the boom?
For its latest State of Social report, data science experts, 4C Insights analysed nearly $200 million in media spend from more than 1,000 brands to reveal that seasonal trends largely governed where cash was being splurged.
For instance, summer travel brands increased spending by 391% in Q2 on Facebook, and 609% on Instagram, whilst home and garden brands also increased their investment substantially, especially on Twitter and somewhat surprisingly, on SnapChat.
Perhaps less surprising, given the string of recent high-profile national election, is that across the last 12 months governments and public sector bodies generated the greatest increase in total ad expenditure on Facebook.
Here’s a rundown of the key trends (click to enlarge):
About Chris Ward
Chris is Editor of MyCustomer. He is a practiced editor, having worked as a copywriter for creative agency, Stranger Collective from 2009 to 2011 and subsequently as a journalist covering technology, marketing and customer service from 2011-2014 as editor of Business Cloud News. He joined MyCustomer in 2014.