Meta is set to overtake linear television next year in total global advertising revenue, according to recent research from WARC.

The report was based on WARC’s dataset of advertising and media intelligence from around the world.

The researchers forecast that Meta will earn $155.6 billion in ad revenue in 2024, or a 63% share of global social spend. Both Facebook and Instagram grew more than 20% year over year (YOY) in 1Q24, fueled by a wave of investment from Chinese exporters and the popularity of Meta's AI tools.

The researchers forecast that Meta will overtake global linear TV in advertising spend in 2025.

The researchers found that social media is now the largest channel worldwide by advertising investment, having overtaken paid search. Global spend on social media advertising is forecast to total $247.3 billion in 2024, up 14.3% YOY.