Digital ad spending experienced record-breaking 35% growth in 2021, according to a new study by PricewaterhouseCoopers LLP and the Interactive Advertising Bureau (IAB). In 2021 the overall U.S. spend to have a digital advertising presence was $189 billion. It climbed from just under $140 billion in 2020.
This accounts for the largest gains in digital ad spends in the U.S. in 16 years, when digital advertising accounted for only $17 billion in 2006.
Internet advertising revenue, 2019–2021.
Ad revenues spending was particularly driven by an increase in digital video, which was up 51%, accounting for $40 billion of that sum. Other top-growing advertising mediums included digital audio—inc. podcasts and streamed music and radio— growing by an impressive 58%, to $4.9 billion.
For those companies and business leaders looking for quality strategic direction and attention for your online and social messaging and presence, Butler Associates’ affiliated Litical Solutions, might be just the answer for creating and executing plans that produce true, long lasting bottom line impact.
Social media spending was up by 39% this past year to reach $57.7 billion, while mobile spending was up 37% to reach $135 billion, while search engine related ad spending grew 133% to reach $78.3 billion in 2021.
The report also noted that 10 digital publishers and platforms accounted for more than three-quarters—about 78.6%—of that total digital ad revenue last year. Its no wonder why Elon Musk is willing to fork over $44 billion to take control of Twitter’s platform.
According to another IAB-commissioned study, done in conjunction with Harvard Business School, found the Internet economy has grown 7X faster than the U.S. economy over the last four years, now accounting for 12% of total U.S. GDP.
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