A Wette.de study found that US ad spending would cross the $200 mark next year after reaching $190.43 billion this year.
The study found the US advertising industry is set to cross the $200 for the first time after a projected growth of an additional 10.7%. The numbers represent around 14.8% growth from the year prior when digital ad spending in the US reached only $165.81 million.
Search advertising is projected to have the highest spend in 2021, amounting to $78.5 billion, a 17.8% increase from 2020. Banner advertising will have the next biggest portion at $68.78 billion after a projected growth of 10.1%. Video advertising is projected to follow next in 2021, with an expected 18.5% from 2020.
In 2021, the retail industry was the biggest ad spender with a 26% share of total ad spending, followed by pharma & healthcare and financial services. Editor at Wette.de, Rex Pascual, said, “The US digital advertising industry generates the most revenue in the world and looks set for an even brighter future as it approaches the $200bn mark in 2022.”
[2 minute read]