68% of Gen Z Discover New Brands Through Social Media
75%
According to global research from app marketing solution Zoomd, 79% of marketers allocated at least 75% of their user acquisition budget to Instagram, whereas only 25% is allocated to TikTok. Despite this preference, 53% of respondents used both platforms in 2023. The survey, conducted in early 2024, preceded a U.S. bill requiring TikTok to separate from Chinese ownership or face a potential ban. 56% of marketers employ influencers for user acquisition and 44% plan to invest more on content creators in 2024..
68%
The recent survey of SheerID of Gen Z consumers found that Gen Z discovers new brands primarily through social media 68%, recommendations from friends or family 42%, podcasts or video content 33% and influencer reviews 27%. One-third of Gen Zers spend over four hours daily on social media. Brands can gain an edge by optimizing peer referral programs, influencers who create authentic content, and providing exclusive offers for Gen Z.
12%
Podcast advertising revenue grew 5% to $1.9 billion in 2023, marking a slowdown from previous double-digit gains due to challenging advertising. However, the sector is expected to rebound with 12% growth to over $2 billion by 2024, driven by initiatives such as improved measurement, programmatic purchasing, live events, aggressive show promotion, and video podcast development, aiming to reach $2.6 billion by 2026.
70%
As per an August 2023 Hootsuite survey, 70% of marketers worldwide trust LinkedIn to deliver a positive ROI. LinkedIn's US ad revenues are forecasted to rise 13.9% to $4.51 billion this year. Initially a B2B marketing staple, LinkedIn is now attracting more B2C marketers and creators with new ad formats and a brand-safe environment.
$6.9 B
Squarespace, the tech firm will go private for $6.9 billion after continued struggles in the public market. All-cash deal with private-equity firm Permira, supported by Ares and Blackstone. Major shareholders Accel, General Atlantic, and CEO Anthony Casalena have approved the transaction.
1
SpaceX and OpenAI have been listed as the topper on the CNBC Disruptor 50 list. OpenAI is listed as the No. 1 company for the second consecutive year. The company has seen its valuation soar from $29 billion to over $80 billion, generating $2 billion in revenue. OpenAI stands out for partnering with tech giants, helping them implement AI innovations, and leading the AI revolution.
16.0%
At the recent EMARKETER Summit, Sophie Jamison, CEO of Lightning Media, advised to let creators work with minimal direction for the best results. Despite concerns about a TikTok ban, many alternatives like Instagram Reels and YouTube Shorts exist. Influencer marketing spending is projected to grow 16.0% to $8.14 billion in the US this year, with YouTube accounting for 34.5%, Instagram 31.5%, Facebook 12.8%, and TikTok 17.2%.