The figures come amid controversy for Google, which has apologized to brands whose ads appeared next to extremist content on YouTube, while Facebook is tackling fake news on its site.
Advertisers’ spend on digital formats globally will increase by 17.4 percent to $583.91 billion, equivalent to 38.3 percent of their entire ad budgets, the report also stated.
Snapchat is set to make more money from advertising this year, growing its revenues to $900 million, representing a hike of 163.3 percent, eMarketer forecasts.
Chinese companies Alibaba, Baidu and Tencent will collectively make $35.82 billion from advertising this year, while Tencent’s brand value has topped $100 billion, according to WPP’s BrandZ report out this week.
“In the immediate future, the only other potential rivals to Facebook and Google are the big 3 Chinese companies, Baidu, Alibaba and Tencent (BAT), who are riding on a wave of rising disposable incomes and a growing tech savvy population in China. The BAT companies are expected to experience resilient digital and mobile ad revenue growth as they start to fully monetize their various advertising products,” Shum added.
