Social media ad spend in Canada 2020-2022

In 2022, social media advertising spending in Canada stood at 3.54 billion Canadian dollars. That year, the spending grew by 10 percent, from a value of 3.22 billion recorded a year earlier.

The status of global social media advertising

Social media advertising has continued its upward trend in recent years. In 2023, global social media advertising spending amounted to 207 billion U.S. dollars. According to the latest projections, this figure was estimated to increase over 247 billion dollars by 2027. The United States was the leading country by social media ad expenditure, with 66.6 billion dollars in 2022. China ranked second with nearly 64.4 billion dollars.

The importance of social media for brands

In 2022, the number of global social media users amounted to nearly 4.6 billion. According to the latest estimates, this figure was projected to increase to almost six billion by 2027. Consequently, social media has become a prominent channel for advertising and marketing. Therefore, the optimization of social media usage is significant for brands. As of January 2023, increased exposure was the most commonly cited benefit of using social media for marketing purposes worldwide. Increased traffic and lead generation followed with 76 percent and 64 percent, respectively.