Social media giant Facebook ’s digital ad revenue has been forecast to reach £1.19bn, breaching £1bn for the first time. Overall digital adspend in the UK is expected to grow by 12% this year, according to eMarketer’s latest forecast, despite business confidence falling in the wake of the Brexit vote. The company said it had seen a “significant increase” in spending on online advertising and that its total spend was now expected to hit more than £2bn this year. ’s figures show a year-on-year increase of 31%, though the company's previous forecast from February predicted less at 26%. The latest forecast predicts growth of 23% to £1.46bn in 2017 and a 19% increase to £1.73bn in 2018. eMarketer ’s predictions are based on Facebook’s updates to mobile video formats, increased ad revenue from mobile news feeds and new Instagram ad formats.
Social media giant Facebook ’s digital ad revenue has been forecast to reach £1.19bn, breaching £1bn for the first time. The company said it had seen a “significant increase” in spending on online advertising and that its total spend was now expected to hit more than £2bn this year. ’s figures show a year-on-year increase of 31%, though the company's previous forecast from February predicted less at 26%. The latest forecast predicts growth of 23% to £1.46bn in 2017 and a 19% increase to £1.73bn in 2018. eMarketer ’s predictions are based on Facebook’s updates to mobile video formats, increased ad revenue from mobile news feeds and new Instagram ad formats.