Social Media Advertising - Spain | Statista Market Forecast

In Spain, ad spending in the Social Media Advertising market market is projected to reach US$1.96bn in 2024.
This ad spending is expected to exhibit an annual growth rate (CAGR 2024-2030) of 8.57%, leading to a projected market volume of US$3.21bn by 2030.
In a global context, the highest ad spending will be generated China, with a figure of US$84.65bn in 2024.
Within the Social Media Advertising market market in Spain, it is anticipated that 67% of total ad spending will be generated through mobile by 2030.
Furthermore, the number of users in the Social Media Advertising market market in Spain is expected to reach 45.0m users by 2030.
In Spain, brands are increasingly leveraging influencer partnerships on social media to enhance engagement and authenticity in their advertising strategies.

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 Spain has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Spain have shifted towards digital platforms and social media for communication and information gathering. With the increasing popularity of social media platforms such as Facebook, Instagram, and Twitter, advertisers have recognized the potential of reaching a large audience through these channels. Spanish consumers are also becoming more comfortable with online shopping and are increasingly using social media platforms to discover new products and services. As a result, advertisers are investing more in social media advertising to target these consumers effectively. Trends in the market show that social media advertising in Spain is becoming more personalized and targeted. Advertisers are leveraging data analytics and artificial intelligence to understand consumer behavior and preferences better. This allows them to create customized and relevant advertisements that resonate with the target audience. Additionally, influencers and content creators are playing a significant role in social media advertising in Spain. Brands are collaborating with popular influencers to promote their products and services, leveraging their large and engaged follower base. Local special circumstances in Spain have also contributed to the growth of the social media advertising market. Spain has a high internet penetration rate, with a large percentage of the population having access to the internet. This provides a vast potential audience for advertisers to reach through social media platforms. Furthermore, Spain has a strong culture of socializing and sharing information online, making social media advertising an effective way to engage with the target audience. Underlying macroeconomic factors have also played a role in the development of the social media advertising market in Spain. The country has experienced steady economic growth in recent years, leading to increased consumer spending and business investment. Advertisers are capitalizing on this economic growth by allocating more of their marketing budgets to social media advertising. Additionally, the rise of e-commerce in Spain has further fueled the demand for social media advertising as businesses seek to increase their online presence and drive sales. In conclusion, the Social Media Advertising market in Spain is experiencing significant growth due to customer preferences shifting towards digital platforms, personalized and targeted advertising trends, local special circumstances such as high internet penetration and a culture of socializing online, and underlying macroeconomic factors such as economic growth and the rise of e-commerce. This growth is expected to continue as advertisers recognize the effectiveness and potential of social media advertising in reaching and engaging with the Spanish audience.

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.