Facebook and Instagram will control 65% of social media budgets this year
According to a new report form eMarketer, Facebook and Instagram will dominate nearly 65% ($16.3bn) of brand's social media budgets this year. EMarketer forecasts that social ad spending will hit $25.1bn in 2015, up from the﻿ $23.7bn predicted﻿ in April. The report shows that Twitter's share is falling, and ﻿gaining a little more than $2bn in ad revenue this year. EMarketer cites Twitter's slowing user growth as the reason for its dip in projected ad revenue, while Instagram gained 100 million monthly users in 9 months.   

A new report from eMarketer forecasts that Facebook and Instagram will control nearly 65 percent—the equivalent of roughly $16.3 billion—of brands' social-media budgets this year, while Twitter's share will fall.

The research firm said today it expects overall social ad spending to hit $25.1 billion in 2015, up from a $23.7 billion projection in April. EMarketer's estimates are largely driven by Facebook and Instagram's ad business, which is expected to grow 42 percent from 2014.

After opening its promos to all advertisers a few months ago, Instagram will bring in $600 million this year, or about 5 percent of Facebook's total ad revenue, according to eMarketer.