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Elon Musk鈥檚 X and popular social video app TikTok are not yet compliant and will need to rush amendments to their user targeting and data collection procedures. "Europe is now effectively the first jurisdiction in the world where online platforms no longer benefit from a 'free pass',鈥� warned Thierry Breton, the EU鈥檚 internal market commissioner.

How does social media influence Gen Z鈥檚 customer journey?

We don鈥檛 currently break out CTV time spent by age, but with the time decrease for linear TV, it鈥檚 likely that older viewers are shifting to streaming and social video. The healthcare and pharma industry spends more on search than on display ads. More than 1 billion Google searches per day鈥攁bout 7%鈥攁re related to healthcare, per the search engine.

The average US adult will spend more than 8 hours per day on digital media this year, with about half of that time spent on mobile devices and more than a quarter on CTV.鈥�

Twitter lags in social video. The single biggest driver of time spent on social media is video. While Twitter users do share videos, text is the primary content format, and Twitter has done little to encourage original video creation on the platform since Musk took over. To see the full forecast, click here. Where can advertisers find Twitter deserters in 2023?

Meta offers $5K bonuses to TikTok creators: New tools and features target migration amid TikTok鈥檚 uncertain legal future.

Social video (mainly via TikTok) and CTV will be among the rare highlights for the ad industry in 2023, boosting video鈥檚 share of the overall digital ad pie to 31.9% and increasing its dominance of the display format to 57.1%. YouTube鈥檚 growth will also outpace its parent Google on the back of this same trend. To see the full forecast, click here.

Social media is crucial for B2B marketing success. However, B2B marketers鈥� ages may be affecting their campaigns鈥� effectiveness. Younger B2B marketers are leading the way in leveraging social media and data-driven strategies.

Social video competition is squeezing Meta. TikTok鈥檚 rise up the ad revenue rankings has directly impacted Facebook鈥檚 bottom line. This year, ad revenue growth of 34.6% will see TikTok account for 11.5% of total social network ad spending.

It's even complicating for us now because we estimate social video ad spending and social video users and we include TikTok in that. And so now we have to think about, well, do we parse out the TikTok text posts and the image posts from the video posts to really come to a number of how much money is being spent there?