YouTube's global advertising revenue growth rate in 2023 is expected to be more than double the growth rate the video platform achieved in 2022, according to recent forecasts from WARC.
The researchers' projections were based on advertising expenditure data from media owners worldwide.
YouTube’s ad revenue is forecast to rise 4% in 2023, to a total of $30.4 billion. That follows an 8.8% year-over-year decline in ad revenue in the fourth quarter of 2022.
The researchers forecast YouTube’s revenue growth will accelerate to 10.3% in 2024, reaching $33.5 billion by the end of the year.
Retail is YouTube’s biggest category for ad investment: retailers are expected to spend $4.1 billion on YouTube ads in 2023, a 4.6% rise compared with 2022. Media/publishing is the second-biggest category for YouTube spend, and financial services is the third-biggest category.
Spend by advertisers in the technology/electronics category is forecast to increase by 8% in 2023, and spend by advertisers in the toiletries/cosmetics category is expected to increase by 4.3%.
About the research: The researchers' projections were based on advertising expenditure data from media owners worldwide.
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