I think probably the most specific thing I could call out would be just this continued influx of spending from Chinese advertisers. Well, I think there's a couple of things that are all interrelated with one another. We're playing slice of pie, so, Max, what does your pie chart look like as to the reasons why social network ad spending is on the upswing? Max, in your recent research on this topic, social network ad spending, you answered the question of what is behind the upswing in the social ad spending market. Next year, we bumped that up by 10 billion, even better. A few quarters later though, towards the end of last year, we revised that figure up, from 75 to 83, so an upward revision of 8 billion over the course of a few quarters. We thought, this year, ad spending on social networking, 75 billion. That was our forecast at the start of last year. At the start of last year, we expected US social network ad spending to hit $75 billion this year, 2024. Things seem to be looking up for social network ad spending. We start with the lead, so social network ad spending, what does it look like? Then, for another news, we'll discuss where former X/Twitter advertisers are now spending those dollars, and what might come from New York suing TikTok and Instagram over alleged addictive design. In today's episode, first in the lead, we'll cover how ad spending on social media is changing. Today's real topic, how's social network ad spending is changing. All right, Otto, we've decided, that is pretty cool. I feel like, the first day when it's fresh, it's easy to slice, but then, after that, it's just, I don't know, I find it very difficult to slice. I will say, if it hadn't come to be that way, I think I would only consume bread as bread pudding because I find slicing it really tedious, but I love bread pudding. No offense, Otto, but, yeah, we're always, "Oh, what's the best thing since sliced bread?" Wow, this an amazing invention, and it just happened in the Midwest a hundred years ago. I thought it was going to be more interesting than that. In 1928, Rohwedder's power-driven, multi-bladed bread slicer, sounds dangerous, was put into service at his friend Frank Bench's Chillicothe Baking Company. The first automatically sliced commercial loaves were produced on July 6th, 1928, in Chillicothe, Missouri, using the machine invented by Otto Rohwedder, an Iowa-born, Missouri-based jeweler. There's evidence humans have been baking bread in some form for about 30,000 years, but sliced bread has only been around since the early 20th century. No one said that, but there is an article in that explains where sliced bread came from. Today's fact, some people have said that this podcast is the best thing since sliced bread. Minda is like, "I'm not talking to you right now." You never remember Marcus. I distracted by the thought of making a sign. Oh, no, you are there, but you said that you said nothing back. If you could hold up a sign, I'd appreciate it. What's good? He's also joined by one of our senior analysts who covers everything social media based one day in New York. We start with our senior analyst covering everything digital advertising and media based in Philadelphia. Max, Minda, and listeners, welcome to the Behind Numbers Daily, an eMarketer podcast, made possible by Nielsen. This is a potentially really big move especially because the real big question floating over social media as a space is how integral can it be in digital shopping journeys? Whether it's linear TV or streaming, Nielsen helps you optimize reach and impact. Sharpen your media planning with Nielsen's Upfronts/NewFronts Guide. Today's episode is made possible by Nielsen.
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