Digital Advertising Takes New Heights
It has been no shock to us the amount of growth we have seen in the digital world over the past year. Throughout the past year, the industry maximized marketing budgets across the nation. In 2020, we saw that most companies relied solely on digital advertising to be their main connection and communication with their isolated customers during the pandemic. In 2021 we only saw this pattern grow to a new level. A recent report from IAB stated, “Digital ad revenue increased 34.5% year over year- the highest growth since 2006!”
Digital Advertising on Platforms
What is the future of digital advertising on platforms and what can we expect for these next years based on the data from 2019-to-2021? In 2021 Digital videos and streaming had a 50.8% YoY growth rate. The growth seen in 2021, shows that live streaming is the future of digital videos. Digital video revenue totaled $39.5 billion in 2021. When it comes to social media, we saw strong growth in Facebook, Instagram, Twitter, and Snapchat, but what really surprised us was the newer platforms such as TikTok. One of the biggest game-changers we have seen since the pandemic is brands bringing in content creators and influencers to change the game dramatically on social media. IAB’s Brand Description Survey 2021 found that 8-in-10 U.S. brands are now working with influencers and content craters, and nearly half of them entered these partnerships for the first time since COVID-19. Revenue generated from social media in 2021 totaled to $57.7 billion, up 39.3% from 2020. What might have shocked us most, is that digital audio (including podcasting) saw the highest growth, by format with a YoY growth rate of %57.9 and totaling $4.9 billion.
Digital Advertising Grows Equally Over All Formats
Over the past few years, we have seen significant growth in ads being viewed primarily through our phones. A change worth noticing in 2021 was mobile advertising revenue reversed a three-year trend of deceleration. A report from IAB mentioned there's a consistent trend of ads being viewed on desktops, TVs, and phones. The report also stated, “It also may reflect the reality that many consumers allocated significant amounts of time-consuming internet-enabled experiences through desktop, CTV, console and other non-mobile formats, party due to consumers being confirmed to their homes in 2021." Companies have proven to us that digital advertising is where they are putting their dollars. It is important to focus and invest in these areas to help tell stories, create authentic content and maximize the digital industry.
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