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Traditional search鈥攚hich excludes retail media search鈥攚ill claim the biggest share of US ad dollars this year, amounting to $90.73 billion, according to our March 2024 forecast.

US CPG Industry Ad Spending 2024 (Subscription required). US Ecommerce Forecast 2024(Subscription required). Methodology: Data is from the October 2024 Ipsos report titled "What the Future: Food." 1,120 US adults were surveyed during August 29-30, 2024.

While the top two channels by ad spend in 2023 were broadcast and cable TV, marketers are increasing their spend on search engine marketing and social media. Local marketers should prioritize investments in channels they know customers are looking for information on local businesses. 72% of US adults have used Google search to look up information about local businesses, per December data from SOCi.

Marketers project Q4 revenue gains: Sales to outpace ad spend growth, driven by focus on more efficient spending strategies.

The ecommerce giant鈥檚 nearly $42 billion take will amount to 13.9% of the digital ad market. That positions it to possibly overtake Meta before the end of the decade. Amazon鈥檚 OTT ad revenues are a small but increasingly important part of the story. Ad revenues from Twitch, Freevee, Prime Video, and the Fire TV platform will total $4.72 billion this year, up 84.4% from 2023.

Walmart鈥檚 fledgling retail media business made big gains in Q4: Ad spending on the platform rose 31% YoY thanks in part to the ads鈥� growing effectiveness.

Ad spend is normalizing after 26.0% growth in 2021. Growth will rebound a bit in 2024 as inflation, interest rates, and overall macroeconomic uncertainty cools in the US. 鈥淸Ad spend] is not going to go back to the glory days of two years ago or really even over the past 10 years,鈥� said Cramer-Flood.

Retail media will stay ahead of connected TV (CTV) in US ad spending and close in on traditional TV this year, according to our forecast. Search overall, including paid search on retail media networks, will reach $108.48 billion in 2023.

While social claims a sizable portion of most advertisers鈥� budgets, two advertising categories鈥攔etail and CPG鈥攁re responsible for an outsized share of social ad spending in the US.

Netflix is experiencing advertising growth and pains. Netflix expanded its ad business in the past quarter, but it also lost its advertising president. Netflix grew its ad-supported audience. During its Q3 2023 earnings call, Netflix shared that its advertising viewership increased by nearly 70% over the previous quarter.

automotive-related categories including the sale and purchase of vehicles and parts and maintenance including, but not limited to, the following categories and segments: new cars, used cars, service, parts, original equipment manufacturers (OEMs), dealer associations, franchise dealers, co-ops, independent dealers, aftermarket service, aftermarket parts, auto financing (depending on the source of the ad

US buyers鈥� most valuable metric when assessing campaign performance on retail media networks isn鈥檛 return on ad spend (ROAS) or ROI. It鈥檚 incrementality, according to May 2022 data from Criteo.

Walmart lags behind Amazon in total ecommerce sales, retail media ad dollars, and retail subscriptions. But there may be ways for it to minimize the gap in certain areas, namely search and AI capabilities.

Retail media will make up one-fifth of worldwide digital ad spend this year. 5 recent charts forecasting how ad spend is changing, from retail media to programmatic. Antitrust Explainer (蘑菇AV subscription required).

Mobile app install ad spending is on the rise, and more video content on social media means an increase in time spent on platforms. Plus, click and collect remains a popular option for grocery buyers. Our forecasters laid out some good news for advertisers.

Q1 has been a mixed bag for marketers. Ad spend grew in January and February, hitting double digits for the first time since March 2022. But many tech and retail companies were hit with layoffs as companies tightened ad spend. IBM, TikTok, and Google all slashed their marketing and advertising teams. On earnings calls, Nike鈥檚 finance chief said the company is planning for a 鈥渟ubdued macro outlook鈥� and Paramount mentioned 鈥渟oftness in the global advertising market.鈥�

So far this year, there鈥檚 been Google versus Microsoft and TikTok versus 鈥� well, everyone. But another battle is emerging as Amazon and Apple go head to head for ad dollars, streaming viewers, and the health vertical.

Meta鈥檚 share is, of course, declining, but it鈥檚 declining from a massive base, and not all of those ad dollars shifting away from Meta are going to TikTok.鈥�. Lower CPMs will help TikTok attract more advertisers, but it still has a ways to go before its share of ad revenues can rival Meta鈥檚. The news: TikTok鈥檚 algorithm may not be all-powerful.

Big Tech is responsible for some of the most popular online destinations among consumers. Amazon, Apple, Meta, Microsoft, and Alphabet-owned Google will attract almost two-thirds of US digital ad dollars in 2024, according to our forecast.

CTV is filling gaps in declining linear TV ad spend. A majority of US CTV households use smart TVs. Advertisers struggle to align ad dollars with the scale of CTV. TV and CTV complement each other for maximum reach. More Chart of the Day:. 7/21 - Threads count. 7/20 - Snapchat leads in global user growth. 7/19 - Social B2Butterfly. 7/18 - Top 10 countries on Threads. 7/17 - $600 billion ad question.