Digital Advertising Revenue Market Projected To Reach $460 Billion By 2024
PALM BEACH, Fla., Jan. 21, 2022
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Jan. 21, 2022 /PRNewswire/ -- Thanks to rising internet penetration rates and the ever-expanding popularity of digital platforms around the world, digital advertising has grown to become one of the most important forms of advertising. A report from Statista projects that Nearly 356 billion U.S. dollars were spent on digital advertising in 2020. This figure is forecast to increase at a rapid pace in the upcoming years. According to the latest projections, digital advertising revenue will amount to 460 billion U.S. dollars by 2024. The Statista report said: "The United States is the largest digital advertising market in the world, as the country had the highest revenue in the digital advertising market in 2020 – an estimated 137 billion U.S. dollars. About four out of ten dollars invested in ads in the country were devoted to digital advertising. Digital advertising spending in the U.S. is projected to grow in the next few years, as sources expect the total spending on digital advertising to reach nearly 153 billion U.S. dollars by 2024. In terms of industries, the retail industry invests the most on digital advertising in the country. As of 2019, this particular industry accounted for 22 percent of all digital advertising spending in the U.S. The automotive and the financial services industries held about 12 percent of the share, respectively." Active companies in the markets today include: Mobiquity Technologies, Inc. (NASDAQ: MOBQ), The Trade Desk (NASDAQ: TTD), Magnite (NASDAQ: MGNI), Amazon (NASDAQ: AMZN), Roku, Inc. (NASDAQ: ROKU).
The Statista report continued: "Search advertising is the most profitable and most promising digital ad format in the U.S., accounting for the majority of all digital advertising revenue generated in the country. Considering that search advertising is one of the major revenue streams for digital advertisers, it is no surprise that Google, the leading search engine in the world, has by far the highest net digital advertising revenue amongst online companies in the U.S., with healthy growth projections for the future. While Google generated about 147 billion U.S. dollars in revenue through its digital advertising channels, Facebook's digital revenue stood at 84 billion U.S. dollars. Nonetheless, Facebook leads the display advertising market in the United States, leaving Google and other competitors behind."
Mobiquity Technologies, Inc. (NASDAQ: MOBQ) BREAKING NEWS: Mobiquity Technologies, Inc. Enters into Agreement with UNIFD to Expand Connected TV Reach for Programmatic - Mobiquity Technologies, Inc. (the "Company"), a leading provider of next-generation advertising, today announced that it has entered into an agreement with UNIFD, a digital media company focused on driving brand awareness across emerging channels, for its programmatic advertising placements for Roku, FireTv, Samsung and other Connected TV (CTV) Devices. UNIFD, with its 275+ and ever-expanding CTV marketplace covering the nation's top news channels, entertainment channels as well as sports, 85 million monthly advertising opportunities and a 98% completion rate, is known for its transparency and ability to drive performance and brand awareness across emerging channels. The collaboration will allow marketers to add Roku and other high performing CTV inventory to their programmatic media buy and help marketers reach the users across mobile desktop and connected TV ecosystems.
The partnership helps Mobiquity reach audiences based on behavioral and contextual data while also understanding patterns from a content consumption perspective to build a more accurate behavioral profile in real time.
As more consumers access digital content through multiple screens and platforms, CTV is emerging as the new, premium channel for consumers and marketers. CTV is predicted to grow exponentially over the coming years, with ad spend projected to reach $19 billion by the end of 2022. CTV also presents an exciting opportunity for marketers and advertisers as it offers unique opportunities to leapfrog traditional TV advertising. For marketers, CTV represents an opportunity to apply data to what is often the largest segment of their advertising investment. In addition, the collaboration will enable marketers to measure their advertising campaigns in a way that is not possible with linear TV. By applying the same level of data-driven insights that they do with their digital advertising campaigns, marketers can compare and measure ad opportunities across channels on the open internet in a transparent way.
"Brands need a scalable, programmatic solution to amplify TV advertising by reaching hard-to-find audiences across all of the devices we use to watch video today. This partnership between UNIFD and Mobiquity provides advertisers with the opportunity to effectively reach all TV and digital audiences at scale," said Dean Julia, CEO of Mobiquity Technologies. CONTINUED… Read the Mobiquity Technologies full press release by going to: https://mobiquitytechnologies.com/press-and-news/
In other news and developments of note in the markets this week:
Roku, Inc. (NASDAQ: ROKU) recently announced "DOOMLANDS" will premiere on The Roku Channel on January 28. From the irreverent mind of Josh O'Keefe, "DOOMLANDS" is Roku's first adult animated series. The show started as creator Josh O'Keefe's university film project turned crowd-funded pilot and was later developed by Josh Bowen and Look Mom! Productions. The series looks at the life of the infamous Danny Doom and aspiring bartender, Lhandi, as they sling beers across a hellish wasteland in their mobile pub: The Oasis. Facing ruthless desert gangs, memory-stealing creeps, and even mean bathroom graffiti, all this crew's got to do to survive is not kill each other. The series will be available exclusively for free on The Roku Channel in the U.S., Canada, and the U.K.
"'DOOMLANDS is a post-apocalyptic animated comedy soaked in dust, beer and blood. It's an homage to Ozploitation and Sci-Fi cinema, and after many years in development, I'm so stoked for it to debut on The Roku Channel," said creator Josh O'Keefe.
Amazon (NASDAQ: AMZN) and Stellantis N.V., a leading global automaker and mobility provider, recently announced a series of global, multi-year agreements that will transform the in-vehicle experience for millions of Stellantis customers and advance the mobility industry's transition to a sustainable, software-defined future.
Stellantis will accelerate its shift to becoming a sustainable mobility tech company through this relationship, which involves Amazon Devices, Amazon Web Services (AWS), and Amazon Last Mile. Stellantis and Amazon will collaborate to deploy Amazon's technology and software expertise across Stellantis' organization, including vehicle development, building connected in-vehicle experiences, and training the next generation of automotive software engineers. Together, the two companies will create a suite of software-based products and services that seamlessly integrate with customers' digital lives and add value over time through regular over-the-air (OTA) software updates.
The Trade Desk (NASDAQ: TTD) recently announced that it is expanding its partnership with NBCUniversal. As part of this announcement, The Trade Desk will add NBCU's Peacock service to its industry-leading CTV platform. As a result, the world's leading advertisers will have access to premium Peacock video on-demand inventory on The Trade Desk, including NBC Sports; NBC and Sky News; NBC Next-Day Prime; Peacock originals such as The Lost Symbol and GIRLS5EVA; and an extensive catalog that includes The Office and Parks and Recreation.
This announcement comes as more U.S. viewers shift to streaming platforms, and advertisers become increasingly eager to engage them there, applying data to improve the TV advertising experience. To meet this growing demand, industry leaders such as NBCU are pioneering new streaming platforms.
"Television is going through a generational shift from linear to digital, accelerated by the global pandemic, and Peacock has been a case study in how broadcast leaders are adapting and leading in this new normal," said Tim Sims, Chief Revenue Officer, The Trade Desk. "CTV is one of the industry's fastest-growing channels, because marketers get to apply data-driven precision to their massive TV campaigns for the first time. The addition of Peacock to our CTV advertising options represents the kind of premium content, at scale, that our clients are demanding."
Magnite (NASDAQ: MGNI), the world's largest independent omnichannel sell-side advertising platform, recently announced it is bringing on the team from Nth Party, a startup developing cryptographic software for secure audience data sharing and analysis. The move reinforces Magnite's ongoing commitment to build leading identity and audience solutions for sellers and buyers. Under the terms of the deal, Nth Party's team of 7 employees, including 5 engineers, will report to Magnite's Vice President of Engineering Robert Lyons. Financial terms were not disclosed.
"First-party audience data is becoming increasingly important to the future of advertising. The seasoned Nth Party team will accelerate our existing data activation efforts immensely," said Adam Soroca, Chief Product Officer at Magnite. "Our teams share the same principles around data compliance and safety, and Nth Party's approach to handling audience data in a secure and privacy-centric way will continue at Magnite."
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