Let’s see what this week’s numbers say about online advertising, shall we?
- According to a report by eMarketer from 2021 through 2024, the compound annual growth rate (CAGR) for social network ad spending will be just 7.9%.
- The latest data from Winterberry Group shows that online media spend in the US totaled $277.3 billion last year, up 13.5% from 2021, slightly below the 16.6% year-over-year growth predicted for last year, indicating a slight deceleration in digital media spending. However, online marketing spend accounted for roughly 57.7% of the $480.8 billion in total, up from about 55.6% share in 2021. This year, online marketing spending is forecast to grow by 10.8%.
- Anew report from RSW/US indicates that short-form video is the trend that agencies believe will be most impactful to the industry and/or their clients this year. This is followed by influencer marketing (43%) and delivering personalized experiences through smart technologies (43%) .