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Pandemic irony #1,000; The average time users spent on social apps each day peaked in 2020 — the same year advertising budgets got slashed due to the pandemic.
In 2021, time spent on social media daily will decrease for every app except Snapchat, eMarketer forecasted in a recent report.
But Facebook CPMs in 2021 are on the upswing now — and in March 2020, they dropped nearly 50%.
Pricing depends on supply and demand, obviously — but the quality of the supply also matters.
In the attention economy, not all attention is equal.
If it comes from anxious, disproportionately unemployed people living under a stay-at-home order, it probably isn’t worth as much as attention from people who can go outside. In groups!!!