A tariff-induced economic slowdown could knock off up to about $10 billion from our forecast for US social network ad spending in 2025. But even under “heavy tariffs,” we expect spending to rise YoY as brands seek the flexibility, scale, and measurable performance that large social platforms like Meta provide.

Key Question: How will tariffs affect social advertising?

Key Stat: Tariffs could reduce our forecast for US social network ad spending by up to about $10 billion in 2025. But that’s still close to $1.5 billion more than what US advertisers spent on social ads in 2024.

This report can help you:

• Develop media strategy and allocate budget for campaigns (agencies and brands)
• Showcase opportunities to customers (media platforms)

In this report, we model three potential outcomes for US social network ad spending, based on the severity of tariffs, to show how ad spending could shift.