In the fourth quarter of 2022, digital ad spending in the United States reached $25.6 billion and advertisers generated 2.7 trillion ad impressions, both up 13.7% and 8.6% from Q3 2022 figures. That’s according to new data from Pathmatics by Sensor Tower.
Per report, social media channels, including Facebook, Instagram, Twitter, TikTok and Snapchat, drove 63% of the total U.S. ad spending last quarter. While Display & Video accounted for 22%, OTT drove the remaining 15%.
Also Read: US advertisers spent $3.3B on OTT ads per quarter since Q4 2021
Popular short-form video app TikTok, which was the most downloaded non-gaming app last year according to another Sensor Tower report, also saw the highest growth with spending on its ads increased by 62% Q/Q to $2.1 billion in the last quarter of 2022.
Facebook, on the other hand, saw over $7.5 billion in ad spend, up 14% Q/Q. While Display & Video ad spend remained stable, spending on Instagram, OTT, Snapchat and Twitter ads grew by 15%, 13%, 29% and 9% respectively.
Also Read: Ad spending on Twitter was down 71% in December
The report also revealed the top U.S. advertisers that spent the most dollars on digital ads last quarter. For the seventh time, Amazon was the top No.1 advertiser spending nearly $500 million, followed by P&G, Walmart, PepsiCo and Disney respectively.