Financial Services Industry Digital Ad Spending 2023

Spending Turns a Corner After Two Years of Tepid Growth

Report by Tyler Van Dyke  | UPDATED: Dec 22, 2023
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Executive Summary
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Table of Contents
Executive Summary
Financial services ad spending is poised to exit low-growth mode
Glimmers of confidence will stoke FIs’ willingness to spend
Persistent uncertainties could throw a wrench in ad spend growth, but FIs should stay the course
Sources
Media Gallery
About This Report
Financial services marketers have had to do more with less as digital ad spending slowed over the last two years. But economic optimism has them ready to reopen their wallets.
Topics
Financial Services
Digital Ad Spending
US
Table of Contents
Executive Summary
Financial services ad spending is poised to exit low-growth mode
Glimmers of confidence will stoke FIs’ willingness to spend
Persistent uncertainties could throw a wrench in ad spend growth, but FIs should stay the course
Sources
Media Gallery

Financial institutions (FIs) slammed the brakes on digital ad spending in 2022 and kept growth low in 2023. They’ve had to do more with less, instead seeking out how to maximize returns on the dollars they spend. But after two years of advertising austerity, FIs are ready to expand their ad budgets.

Key Question: How will financial services digital ad spending change through 2025, and what does it mean for marketers?

KEY STAT: As financial services digital ad spend mounts a recovery, it will join just two other industries (retail and CPG) to surpass $30 billion in annual spend.

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Table of Contents

  1. Executive Summary
  2. Financial services ad spending is poised to exit low-growth mode
  1. Glimmers of confidence will stoke FIs’ willingness to spend
  2. Persistent uncertainties could throw a wrench in ad spend growth, but FIs should stay the course
  1. Sources
  2. Media Gallery

Charts in This Report

US Financial Services Digital Ad Spending, 2021-2025 (% change)

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First Published on Oct 26, 2023

authors

Tyler Van Dyke

Contributors

David Morris
Principal Analyst
Oscar Orozco
Director, Forecasting