Financial Services Industry Digital Ad Spending 2023

Spending Turns a Corner After Two Years of Tepid Growth

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

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First Published on Oct 26, 2023


Tyler Van Dyke


David Morris
Principal Analyst
Oscar Orozco
Director, Forecasting

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