Social Media Advertising - Mexico

In Mexico, ad spending in the Social Media Advertising market market is projected to reach US$2.18bn in 2024.
The ad spending in Mexico is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 10.60%, leading to a projected market volume of US$3.99bn by 2030.
In a global context, the majority of ad spending will be generated China, which is expected to reach US$84.65bn in 2024.
Within the Social Media Advertising market market in Mexico, it is anticipated that 65% of total ad spending will be generated through mobile in 2030.
Additionally, in Mexico's Social Media Advertising market market, the number of users is expected to reach 125.8m users by 2030.
In Mexico, social media advertising is increasingly prioritizing localized content to enhance brand engagement and resonate with diverse cultural audiences.

Definition:
Social Media Advertising is a form of online digital marketing in which paid banner and video ad campaigns are run on social media platforms to reach the target audiences. Marketers can promote brands, products, and services and increase purchase intention.

Additional information:
Social Media Advertising comprises advertising spending, users, average revenue per user, and key players. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Key players in Social Media Advertising include Facebook, Instagram, Twitter, TikTok, LinkedIn, Weibo, Naver, and Kakao. For more information on the data displayed, use the info button right next to the boxes.

All ad spending generated by social networks
Sponsored posts

Ads within online games playable on social networks
Revenue generated from membership subscriptions or premium fees

The Social Media Advertising market in Mexico has experienced significant growth in recent years, driven by changing customer preferences and the increasing importance of digital advertising. Customer preferences in Mexico have shifted towards digital platforms, with a growing number of people using social media on a daily basis. This has created a huge opportunity for advertisers to reach their target audience through social media advertising. In addition, consumers in Mexico are becoming more comfortable with online shopping, which has further fueled the demand for digital advertising. One of the key trends in the Mexican Social Media Advertising market is the increasing use of influencer marketing. Influencers have gained a significant following on social media platforms, and brands are leveraging their popularity to promote their products or services. This form of advertising allows brands to reach a highly engaged audience and build trust with consumers. As a result, more and more companies are allocating a portion of their advertising budget to influencer marketing in Mexico. Another trend in the market is the growing importance of video advertising. Video content has become increasingly popular on social media platforms, and advertisers are recognizing the power of video in capturing the attention of their target audience. Brands in Mexico are investing in high-quality video content to engage consumers and drive brand awareness. This trend is expected to continue as internet penetration and smartphone usage continue to rise in the country. Local special circumstances in Mexico have also contributed to the growth of the Social Media Advertising market. Mexico has a large and young population, with a high level of smartphone penetration. This makes it an attractive market for social media platforms and advertisers. In addition, Mexico has a vibrant and active social media culture, with users spending a significant amount of time on platforms like Facebook, Instagram, and Twitter. This creates a fertile ground for social media advertising to thrive. Underlying macroeconomic factors have also played a role in the development of the Social Media Advertising market in Mexico. The country has experienced steady economic growth in recent years, which has led to an increase in consumer spending. As a result, companies have been more willing to invest in advertising to capture the attention of consumers and drive sales. Furthermore, the Mexican government has been implementing policies to promote digital transformation and attract foreign investment, which has created a favorable business environment for the Social Media Advertising industry. In conclusion, the Social Media Advertising market in Mexico has experienced significant growth due to changing customer preferences, the increasing importance of digital advertising, and favorable macroeconomic factors. Advertisers in Mexico are leveraging influencer marketing and video advertising to reach their target audience, while the country's young population and active social media culture provide a fertile ground for social media advertising to thrive. With continued economic growth and government support, the Social Media Advertising market in Mexico is expected to continue its upward trajectory.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on social media advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers social media advertising generated by social networks or business networks such as Facebook, Tiktok, Instragram, Pinterest, and LinkedIn.

Modeling approach:

A combined top-down and bottom-up approach determines the market size. Starting with the top-down approach, we calculate global social media advertising by aggregating revenues from key players (Meta Platforms (Facebook and Instagram), ByteDance (Tiktok and Douyin), Twitter, Snapchat, and Microsoft (LinkedIn)). Followed by the bottom-up approach, we justify global, country, and region results using web traffic and the number of app downloads. Lastly, we distribute the results to each country individually with relevant indicators such as GDP, internet users, social media users, and digital consumer spending by country.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Social media is no longer just for connecting with friends; now brands meet customers, and trends are born in these platforms. As social media advertising spending is projected to continue to grow during the second half of the decade, buying behavior is consistently impacted by likes, comments, and shares. Social influence has led marketing strategies to align with platforms that promote video content. In 2024, TikTok and social media ranked among the top three leading consumer trends according to marketers surveyed around the globe, making such channels unavoidable for most advertising strategies. The social media advertising market is not limited to one region; countries across all continents are investing in social media advertising, with the United States and China recording the highest expenditures worldwide.