US Financial Services Digital Ad Spending 2020

Ad Spending Continues to Grow, Despite the Pandemic

About This Report
The financial services sector will continue to increase its investments in digital advertising this year despite the pandemic. Shifting consumer behavior toward digital banking services and heightened interest in personal finance has given financial services companies good reasons to continue advertising.

Executive Summary

Digital ad spending in the US financial services industry will increase 9.7% this year to $19.62 billion. It will be the second-largest spender on digital advertising, behind only retail. Advertisers in the industry continue to heavily rely on mobile, while display and search ad spending have also increased, as the pandemic places an emphasis on performance and brand marketing.

What’s driving overall financial services ad spending growth?

Banks and credit card issuers have consistently increased their ad spending annually, and that trend will continue this year despite the pandemic. With economic uncertainty hastening digital banking adoption and placing greater importance on personal finance among consumers, advertisers want to capitalize on that interest.

How much financial services ad spending is going to mobile?

Mobile ad spending will grow 13.0% to $13.91 billion in 2020, accounting for 70.9% of all digital ad spending in financial services.

Which ad format is growing the fastest?

Spend on display advertising will grow 10.8% this year, reaching $9.94 billion. However, search will also grow 9.1% to $9.01 billion.

What is financial services’ share of total US digital ad spending?

We anticipate that financial services will make up 14.6% of total digital ad spending in 2020 and fall slightly to 14.4% in 2021.

WHAT’S IN THIS REPORT? This report details our annual forecast of US financial services digital ad spending. It includes a comprehensive overview of total digital ad spending, as well as estimates by channel, device and format and the pandemic’s impact on these figures.

KEY STAT: Digital ad spending in the US financial services industry will grow 9.7% this year to $19.62 billion.

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Table of Contents

  1. Executive Summary
  2. Financial Services Digital Ad Spending Outlook
  3. Digital Ad Spending by Device
  1. Digital Ad Spending by Format
  2. Key Takeaways
  3. eMarketer Interviews
  1. Read Next
  2. Sources
  3. Media Gallery

Interviewed for This Report

Dave Antonelli
Dish Media
Director, Sling TV
Interviewed June 12, 2020
Arsen Avakian
Cooler Screens
Co-Founder and CEO
Interviewed June 17, 2020
Danielle Cravatt
Senior Vice President, Client Partnerships
Interviewed June 8, 2020
Klarn DePalma
MNI Targeted Media
Executive Vice President
Interviewed June 3, 2020
Stephani Estes
Senior Vice President and Executive Director, Media
Interviewed June 8, 2020
Doug Grumet
AMP Agency
Senior Vice President, Media
Interviewed June 9, 2020
Kunal Gupta
Founder and CEO
Interviewed June 4, 2020
Cheryl Huckabay
The Richards Group
Managing Principal, Media
Interviewed June 15, 2020
Jennifer Kohl
Senior Vice President and Executive Director, Integrated Media
Interviewed June 10, 2020
Todd Krizelman
Founder and CEO
Interviewed June 4, 2020
James Malins
General Manager, Cross-Channel Strategic Solutions
Interviewed June 25, 2020
Japhia Mangan
Senior Account Director
Interviewed June 12, 2020
Mike Menkes
Analytic Partners
Senior Vice President
Interviewed June 9, 2020
Jon Morgenstern
Senior Vice President and Head of Investment
Interviewed June 18, 2020
Frost Prioleau
Interviewed June 3, 2020
Jon Schulz
Viant Technology
Interviewed June 10, 2020
Scott Symonds
AKQA Media
Managing Partner, Media
Interviewed June 16, 2020
Jeremy Tate
DWA, a Merkle Company
Senior Vice President, General Manager
Interviewed June 4, 2020
Vanessa Vignon
Ubisoft Entertainment
President, Audience, Acquisition and Management
Interviewed June 23, 2020
April Weeks
Executive Vice President, Media Services and Operations
Interviewed June 15, 2020
Brian Wieser
Global President, Business Intelligence
Interviewed June 26, 2020

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Blake Droesch


Oscar Orozco
Senior Forecasting Analyst