Nearly $2 billion in US out-of-home (OOH) ad spend went to billboards in Q2, accounting for about three-fourths of OOH. That said, billboards’ share decreased by 9 percentage points with that money going to transit as commuters return to buses and trains.
Overall digital ad spending in the US is set to grow by 17.8% in 2022, a steep deceleration from 2021’s 38.3% boom but still ahead of 2020’s pandemic-skewed slowdown. Industry-level digital ad spending has mirrored these extreme swings in recent years—with individual highs and lows often spread far apart from the median. Starting this year, however, most industries will settle into more steady spending patterns closer to the national average.
Google and Meta have maintained a steady lead in digital ad revenues worldwide, ahead of the likes of Amazon, Twitter, and Snapchat. But that's not without their own growing pains. Both Meta and Google saw revenues dip by several billion dollars in Q1 of this year. Still, the companies are tens of billions of dollars ahead of triopoly competitor, Amazon, in digital ad revenues.
Snap in survival mode: Snap is laying off some of its augmented reality hardware and software talent, stalling years of innovation and putting its leadership position in AR at risk.
Even The Washington Post feels the ad downturn: Long-standing problems with digital publishing are combining with lower ad spending to create a perfect storm for the industry.
Healthcare delivery went digital in 2020, and so did healthcare and pharma ad budgets. In fact, 2020 was the only year in which healthcare and pharma overindexed the overall market digital ad spending growth.
TikTok sees an opportunity in local content: The video app is testing a new feed that displays algorithmically recommended videos made in your area.
On today's episode, we discuss who is most likely to win the short-video race, the significance of Lyft's new media division, the potential of Apple's ad business, whether buy now, pay later is too good to be true, Chewy's new insurance and wellness service CarePlus, an unpopular opinion about retail media, who's buying all the electric vehicles, and more. Tune in to the discussion with our analysts Ross Benes, Blake Droesch, and Max Willens.
Twitter employee departures accelerate as Musk drama wears on: Uncertainty over company direction and stalled growth initiatives could be a turnoff to advertisers as well.
July spending figures confirm the advertising downturn: The industry is pulling back from pandemic-era highs, and everyone is feeling the impact.
Maps are a safe space for Apple’s ad expansion: Apple has a low share of this market and can point to competitors that already sell map ad space.
US banking digital ad spend will hit $13.54 billion in 2022, up 20.4% year over year. Growth was even faster in 2021, when banks anticipated an upswing in consumer spend. In the coming years, growth will decelerate but remain in the double digits.
US digital retail media ad spending will reach $61.15 billion by the end of our forecast period in 2024. This is nearly triple the 2020 figure of $20.81 billion and represents a compound annual growth rate (CAGR) of 30.9% in that four-year span.
Roblox isn’t growing: The young-skewing gaming/metaverse platform reported lower net bookings than Q2 2021.
Even as it contracts, Snap looks to the future: The company is planning layoffs but has major long-term ambitions.
Sports betting’s ad cooldown won’t be permanent: A year of hefty spending might have DraftKings slowing down, but sports will persist through a recession.
Twitter appeals to retailers: Its new Location Spotlight should help firms with physical locations communicate with customers.
Among US companies investing in digital video advertising, the share that did so exclusively on YouTube increased from 47% in Q4 2021 to 60% in Q1 2022, for a total of roughly 9,300 companies in the US.
Google looks to boost transparency around programmatic advertising: Its move comes as our forecast shows spending on these ads will rise steadily through 2024.
Ditching Netflix to pay for groceries: Consumers in the US and UK show a willingness to cut back on media and retail subscriptions as the cost of living skyrockets.