Digital Media Keeps Firing On All Cylinders
Despite all the gripes about digital media it looks like advertisers are still in love with the medium. According to the IAB in 2018 total US digital ad spending soared to $107B, which is a 22% YoY increase compared to $88B in 2017. For some context total US TV spending was $71B in 2018 . . . remember when it was a big deal that Digital surpassed TV?!?
Here is a quick summary of what’s driving Digital’s growth right now:
- Search is still growing – up 20% YoY to $48.4B
- Social isn’t suffering from data leaks and brand safety concerns – up another 31% to $29B
- Digital Video is up 37% YoY to $16.3M (this includes OLV and OTT)
- Digital Audio is still a relatively small slice at $2.3B, but that’s also up 23% over 2018
The craziest part about these numbers is that Digital is expected to keep growing at a torrid pace for years to come. Some outer limit forecasts have Digital accounting for over half of total media spending by 2025. What an epic transformation we’re witnessing!