Q3 2024 Ad Spending Forecast and Trends

Digital Ad Spending Rises, but Differences Remain Between Industries

Report by Yoram Wurmser  | Sep 26, 2024
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Executive Summary
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Table of Contents
Executive Summary
Digital ads will capture more than $4 of $5 ad dollars next year
Industries skew their digital spend toward different media, devices, and formats
Media Gallery
About This Report
Digital’s share of total media ad spending will hit almost 78% in 2024 and exceed even this high number in some industries. This report looks at some factors that correlate with an industry’s digital spending.
Topics
Digital Ad Spending
US
Table of Contents
Executive Summary
Digital ads will capture more than $4 of $5 ad dollars next year
Industries skew their digital spend toward different media, devices, and formats
Media Gallery

In 2024, over three-quarters of US ad spend will go to digital channels, but not all industries emphasize digital equally. In six industries, digital will command an even higher share than the overall average of 77.7%. And there is significant variation in the share of digital ad spend that different sectors dedicate to mobile, social, video, and search.

Key Question: Which industries will spend the highest share of ad budget on digital this year?

Six Industries Will Spend More Than Three-Quarters Of Their Ad Budgets On Digital in 2024 (digital % of US total media ad spending, by industry, 2024)
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Key Stat: Three industries—technology and electronics, retail, and consumer packaged goods (CPG)—will spend more than $4 of every $5 ad dollars on digital formats in 2024.

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Table of Contents

  1. Executive Summary
  2. Digital ads will capture more than $4 of $5 ad dollars next year
  1. Industries skew their digital spend toward different media, devices, and formats
  2. Media Gallery

    Charts in This Report

    Six Industries Will Spend More Than Three-Quarters Of Their Ad Budgets On Digital in 2024 (digital % of US total media ad spending, by industry, 2024)Digital Ad Spend Now Generates More Than Three-Quarters of Total US Ad Spend (billions in US digital ad spending, % change, and % of total media ad spending, 2019-2026)
    5 Major Industries Tend to Spend an Above Average Share of Their Ad Budgets on Digital (ppt difference in US industry vs. total digital % of total media ad spending, by industry, 2021-2026)Media & Entertainment Will Exceed the Average Digital Share of Ad Spend for the First Time This Decade in 2024 (ppt difference in US industry vs. total digital % of total media ad spending, by industry, 2021-2026)
    The "Other" Category Continues to Rely Heavily on Traditional Media Despite Continued Digital Growth (billions in US other industry digital ad spending and industry vs. total digital % of total media ad spending, 2021-2026)Social Media Is on Mobile, So It's No Surprise That Most Industries Leaning Into Mobile Also Emphasize Social Ads (mobile vs. social % of US digital ad spending, by industry, 2024)
    Industries That Emphasize Mobile Advertising Target Tech-Savvy Consumers (mobile % of US digital ad spending, by industry, 2024)Industries Selling Low-Consideration Items Spend More of Their Digital Ad Budgets on Social (social network % of US digital ad spending, by industry, 2024)
    Industries That Skew Their Digital Buys Toward Video Ads Spend Relatively Heavily on Display in General (video vs. display % of US digital ad spending, by industry, 2024)Industries With Large Brand Ad Buys on TV Also Tend to Spend Relatively Heavily on Video Ads (video % of US digital ad spending, by industry, 2024)
    Industries Focused on Direct Response Goals Lean Into Search (search % of US digital ad spending, by industry, 2024)

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    authors

    Yoram Wurmser

    Contributors

    Rahul Chadha
    Ethan Cramer-Flood
    Zach Goldner
    Forecasting Analyst
    Vladimir de Leon
    Chart Editor
    Penelope Lin
    Director, Data Visualization
    Evelyn Mitchell-Wolf
    Senior Analyst, Digital Advertising & Media
    Sakina Thanawala
    Matt Torpey
    Senior Chart Editor

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