After an unexpectedly solid 2023, the good times will continue for ad spending in most US industry verticals in 2024. Telecom will lead in growth, and numerous categories will outpace their 2023 increases. A few unusual results are on tap as well.
Several industry verticals will outpace the national average for digital ad spending growth in 2024, and an influx of political ad spending will create some unusual results. The industry-level spending splits between search, display, mobile, social, and traditional will be mostly familiar—but with a few surprises.
Key Question: Which US industries will spend the most on digital advertising this year and next, and which will grow spending the fastest?
Key Stat: Telecom will lead all industries in digital ad spending growth in 2024 at 20.9%. But equally notable will be the 19.5% growth from the “other” category, which includes political ad spending. Every four years, the political cycle dramatically skews the metrics.
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Table of Contents
Executive Summary
Telecoms, political players, and financial services firms are driving digital ad spending in 2024
Among formats and devices, the tech categories lean on display and mobile, while travel does the opposite
Retail, CPG, and media and entertainment lean into social network ad spending
Political ad spending will distort industry ad spending on traditional media this year
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