Digital ad spending hit record $9.6 billion in Q1
Posted on Jun 4, 2013 by YuMe
Total spending on digital advertising reached a record $9.6 billion during Q1 2013, up 15.6 percent from $8.3 billion reported during the same three-month period last year, according to the Interactive Advertising Bureau and PricewaterhouseCoopers.
As more consumers turn to the Internet to communicate with others, perform their jobs and access information, it's no surprise that advertisers have followed suit. Brands have the opportunity to reach consumers with sophisticated and interactive online video ads, social media ads campaigns, paid search and display ads and other opportunities offered in the digital sphere.
"Consumers are turning to interactive media in droves to look for the latest information, to connect with their social network and simply to be entertained," said Randall Rothenberg, president and CEO of IAB. "This first quarter milestone clearly illustrates that marketers recognize that digital has become the go-to medium for all sorts of activities on all sorts of screens, at home, at the office and on the run."
David Silverman, a partner with PwC U.S. noted the growth rate in Q1 is demonstrative of the long-term expansion of digital advertising budgets among American brands, which has increased consistently over the past decade.
Online news source MediaPost noted these findings are also consistent with those of separate research conducted by ZenithOptimedia, which predicted Internet advertising will increase 14.4 percent in 2013. In addition, the media analytics provider expected digital advertising to increase its share of total ad spending from 18 percent in 2012 to about 23 percent in 2015, outpacing investments made in print advertising.
ZenithOptimedia predicted Internet video advertising to surge 30 percent per year in the near future, suggesting the medium will continue to play an important role in multichannel marketing strategies.