Social media is an essential component of many companies’ marketing strategies. European brands spend an estimated €35.5 billion ($40.4 billion) a year on social media advertising, according to IAB Europe’s AdEx Benchmark Report. As governments across the continent move to restrict younger audiences’ access to these platforms, marketers are being forced to rethink their approach.
France is set to become the first European country to implement an age restriction, when its social media ban comes into force for under 15s on September 1. A continent-wide ban could follow. European Commission president, Ursula von der Leyen, has pledged to introduce EU-wide restrictions, while 10 EU countries are drafting their own social media bans including Greece, Sweden, Portugal, and Spain.
The U.K. has outlined its own plans to prohibit social media access for under-16s in July. In response, brands are expected to cut digital advertising spending by £1.3 billion ($1.7 billion), according to analysts at eMarketer.
The commercial weight social media channels carry with young consumers is considerable. More than half (54%) of 12- to 15-year-olds in the U.K. find new items they want to buy through social media, according to audience research company GWI. A further 24% watched an unboxing or product review video in the past week. Companies in the food and drink, toys, fashion, and beauty sectors are expected to be most impacted by the changes.
