Dive Brief:

• A new report from eMarketer found that global social media ad spending is on track to grow 33% this year and hit $22.68 billion in total. 
• The majority of 2015 social media spending will go to Facebook, which is expected to make $15.5 billion in ad revenue. 
• The U.S. and China will be the biggest global spenders, while the U.S. and Canada will spend the most regionally. 

Dive Insight: 

Social media spending has been on the rise for the past several years, and a 33% increase is especially promising. eMarketer predicts that social media spending will account for 16% of all digital spending by 2017. As long as Facebook, Twitter, and other popular social media sites keep making improvements to their ad products and buying processes, social media will likely continue to grow in the coming years.