A new privacy law in Nevada shows the need for federal legislation, the industry group Interactive Advertising Bureau said Wednesday. Nevada's law, which took effect this week, requires website operators to allow consumers to opt out of the sale of some personally identifiable data. The measure was passed in May -- almost one year after California enacted a far broader privacy law that gives consumers the right to learn what personal information has been collected about them by companies, the right to have that information deleted, and the right to prevent disclosure of that data to third parties. The Nevada law only applies to data that has traditionally been considered personally identifiable, such as names, addresses, email addresses and telephone numbers.
Zenith, a media agency owned by Publicis Media, predicts global social media ad spend will grow 20% this year, reaching $84 billion. According to Zenith’s data, social media advertising will account for 13% of total global ad spend and rank as the third-largest advertising channel, behind TV and paid search.
2019 will be the first year that social media ad spend outperforms print ad spend, says Zenith, with newspaper and magazine ads generating less than $69 billion this year.
SMBs and digital brands driving social ad growth. Zenith attributes the growth across social media ad channels to SMBs shifting and adding budgets in order to take advantage of the targeting and localization capabilities offered by platforms like Facebook.
“Small businesses in the U.S. are spending heavily on social media and paid search, and are fueling much of the global growth of these channels,” writes Zenith.
more at source: https://marketingland.com/social-media-ad-spend-to-surpass-print-for-first-time-268998