Digital audio and video spending both increased by more than 50% last year. Social media advertising and search revenue also saw substantial increases, according to full findings from last year’s digital spend released by the IAB and PwC. Marketers are all-in with digital video channels like CTV, as well as emerging platforms like TikTok.
The numbers from “IAB Internet Advertising Revenue Report: Full Year 2021” show promising revenues in these spaces, even though measure and identity resolution challengers are still being worked out in many of these ad ecosystems.
The big takeaways:
- Digital video is up 50.8% compared to last year, with total revenues of $39.5 billion;
- Digital audio captured the highest year-over-year growth, up 57.9% to $4.9 billion;
- Social media advertising was up 39.3% to $57.7 billion and
- Search revenue grew substantially (32.8%) in 2021, but it led to a slight decrease in total revenue share (reduction of 0.8 percentage points).