Let’s see what this week’s numbers say about online advertising, shall we?
- On eMarketer’ latest report answering to the question: How do social media habits differ across generations in 2023 and beyond? They predict that Gen Z will see the fastest rate of social network user growth—nearly a 4% compound annual growth rate (CAGR) from 20
- Another report by eMarketer answering the question: How has genAI begun to alter the marketing landscape? they predict that GenAI has had explosive user growth since the launch of ChatGPT, but the adoption rate will slow in 2024. Even so, more than 100 million people in the US will be genAI users just two years after the release of ChatGPT—far greater than the number of smartphone users two years after the iPhone launched.
- PwC has released its latest annual Global Entertainment & Media Outlook report, a comprehensive study that contains projections for online and offline media advertising markets through 2027. This year’s report forecasts continued expansion of the ad market, with global ad revenues growing at a compound annual rate of 4.5% from 2022 through 2027. In 2025, PwC predicts that advertising will surpass consumer spending and internet access to become the largest media and entertainment category, as it approaches a $1 trillion market.
- B2B marketers are increasingly reporting the effectiveness of social media for driving revenue, according to a recent study from Wpromote. 6 in 10 respondents to the survey cited social media as being among the most effective digital marketing channels at driving revenue, up from 50% last year and 57% the year before.
- Digital pureplay ad revenues will comprise more than 2 in 3 global advertising dollars (68.8% share) this year, according to a mid-year forecast from GroupM. Digital will continue to eat up market share in the years to come, per the forecast, climbing to almost three-quarters (74.4% share) of ad spend in 2028.