This Week In Digital Advertising Data (April 26th 2024)

Let’s see what this week’s numbers say about online advertising, shall we?

  • The US digital advertising market has long been cornered by a few select companies, but the extent of market concentration grew even more last year, according to the latest revenue report from the IAB and PwC. In fact, it wasn’t only the top companies that increased their market share, but the mid-tier as well. For the year, the top 10 companies accounted for almost 8 in 10 digital ad dollars (79.8%), up from a range of 76.6-78.6% during the 4 years prior. It’s possible that cookie deprecation will contribute to an even greater share of ad dollars for these top companies in the years to come.
  • Digital ad spending in the US grew yet again last year despite difficult economic conditions, registering a 7.3% year-over-year increase to a new high of $225 billion, according to the latest revenue report from the IAB and PwC. That represents a decelerated rate of growth from last year’s 10.8% gain, but in a reversal from last year, digital ad spend growth rates accelerated with each consecutive quarter.
  • Greater accountability and ROI focus for influencer campaigns is the top trend that will dominate influencer marketing strategy for communications specialists around the world this year, according to a recent report from Influencer Intelligence. Almost half (47%) of respondents tabbed this a top-3 trend for them this year from a list of 14, putting it easily in the top spot.
  • Among social media users, young adults ages 18-29 are more likely to search TikTok (40%) or YouTube (35%) before making a big purchase than they are to ask family and friends (28%) according to a report [download page] from IZEA. This age group is unique in this respect, with all others favoring their family and friends over TikTok, particularly the oldest bracket.
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