Zenith’s latest report found digital advertising would take a 58% share of the market this year.
The study found global advertising expenditure would grow 11.2% this year, 6.9% in 2022 and 5.6% in 2023. This growth would be driven by a demand for performance-led ecommerce advertising and brand advertising on online video.
Ad expenditure would total $669 billion this year, $40 billion more spending than in 2019. With pandemic accelerating the economic shift from physical stores to ecommerce, brands have created new direct-to-customer operations, using performance-driven advertising like social media and paid search.
Because of this shift, social media would expand by 25% this year to reach $137 billion, overtaking paid search in scale for the first time. Additionally, digital advertising will grow 19% this year and increase its share of total ad spend to 58%, up from 48% in 2019 and 54% in 2020.
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