India driving more revenue per user for social media firms
New Delhi: As user growth on various social media platforms in the key global markets slows down, India is helping social media players clock more revenue per user in the Asia-Pacific region, thus driving the overall social advertising spend, a new report said on Monday.
According to Forrester, global social advertising spend will hit $165.6 billion in 2023, up from $75 billion in 2018 -- growing at a CAGR of 17.1 per cent.
"Asia Pacific and the rest of world will grow fastest , capturing the US and Europe's share of global social advertising spend. Asia Pacific's share of global spend will increase from 30 per cent in 2018 to 35 per cent in 2023, mostly thanks to growth in China," said Forrester's 'Social Media Advertising Forecast, 2019 to 2023' report.