Social media, online video, and search were the ad channels that saw some of the strongest year-over-year growth in 2021, and further growth in spend is expected in 2022, according to recent research from WARC.
The report was based on data from an annual survey of 1,350 marketing practitioners worldwide.
The overall ad market grew 24% year-over-year in 2021, the analysis found. It is forecast to grow by 13% in 2022 and 8% in 2023.
Excluding cinema advertising—which was drastically cut in 2020 because of COVID-related theater closures—social media, OTT video, and search saw the strongest year-over-year growth among ad channels in 2021 (+42%, +42%, and +39%, respectively).
All three channels are also forecast to see significant spend growth in 2022 (+23% for social media, +20% for OTT video, and +14% for search).
Among ad channels, e-commerce advertising is forecast to see the greatest year-over-year growth in 2022.
In 2022, some 77% of marketers surveyed plan to increase their ad spend on online video and 68% plan to increase their spend on social media.
About the research: The report was based on data from an annual survey of 1,350 marketing practitioners worldwide.
Continue reading "Global Ad Spend 2021-2022: Where Budgets Are Going" ... Read the full article
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
Sign in with your preferred account, below.
You may like these other MarketingProfs articles related to Advertising & Promotions:
The Impact of Reddit Ads [Infographic]
This infographic makes the case for why ads have a big impact on Reddit by presenting data related to user behavior and community engagement. read this »
How to Identify What Advertising Strategy Is Best for Your Business: Rebecca Bugger on Marketing Smarts [Podcast]
Do you know where you need to be advertising? Many marketers default to digital, but is that where your audience is? Other advertising methods can be paired with digital for the best strategy, according to Rebecca Bugger. read this »
How to Use Interactive Ad Campaigns to Generate Leads
You know when you were a kid visiting a museum and hated reading long blocks of text but loved the slimy "touch and feel" displays? That's pretty much how interactive advertising works—and for generating leads, it definitely works. read this »
Five Ways Digital Attribution Can Improve ROAS for CTV/OTT Advertising
Consumer ads have ruled CTV, but with the ever-decreasing gap between home and work life, that doesn't have to be the case. Here's how B2B advertisers can use digital attribution to take advantage of CTV. read this »
Seven Results-Driven Paid Strategies for B2B Marketing
You've been throwing free content at people, and they're not engaging with it. You're exhausted. Your CEO agrees: It's time to buy their attention. Try one of these seven paid marketing strategies. read this »
Global Spend Trends for Out-of-Home and Cinema Advertising
Marketers' return to investing in out-of-home and cinema advertising is outpacing consumer behavior, according to recent research from WARC. read this »