Digital Advertising Soars
Digital consumption continues to grow, and advertising dollars are following fast. According to a recent report conducted by PwC in partnership with AIB, all major channels increased significantly compared with a year ago, particularly across digital video, digital audio, social media and search.
Here are some of the report’s key insights.
- Digital video continues to be one of the fastest growing channels, up 51% over last year with total revenues of $39.5 billion.
- Digital audio captured the highest year over year growth, up 58% to $4.9 billion.
- Social media advertising was up 39% to $57.7 billion.
Looking ahead to the remainder of 2022, IAB and PwC forecast continued digital ad growth driven by innovation. The continued rise of AR/VR and the metaverse is expected to spark innovation and continue to drive ad revenue in the years ahead.
Do you plan to continue expanding in digital advertising? Contact us today about an Advertising Effectiveness Study to ensure your ads cut through the clutter and inspire incremental visitation or purchases.
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