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In recent years, Meta and other social networks have seen an influx of ad dollars from Chinese retailers such as Shein and Temu. Heavy tariffs could reduce our best-case scenario for social ad spending across all devices by 10.0% in 2025.

Temu slashed its budget across Meta, X, and YouTube by 31% in April, while Shein reduced its US ad investment by 19% in the same period. Temu and Shein also cut Google Shopping ad spend in April.

By the numbers: Bank rankings are based on total likes, views, and followers on Facebook, X (formerly known as Twitter), YouTube, and Instagram. Chase ranked 10th among 100 banks with 3.9 million Q2 2024 Facebook likes, 398,000 X followers, 239.9 million YouTube views, and 294,000 Instagram followers.

There may be more trouble ahead for the UK’s ad industry as economic issues continue to mount, but the video space is still growing.