I love to read information in relation to digital media. I have written a bunch of stuff of information I have found that shows digital media, video in particular is skyrocketing in the marketing and advertising world. Here is more proof on the subject.
Keep in mind that your business does not have to be a huge Fortune 500 company to embrace these stats. Any size business can use digital media to market their brand.
US digital advertising spend for the first half of 2019 totaled $57.9 billion, an all-time high for the first six months of a year, according to a report from the IAB and PwC US.
The record total marks a 17% uptick from the previous half-year mark. Video advertising saw the fastest level of year-over-year growth at 36%, totaling $9.5 billion.
The report pretty much states what social media has been accomplishing and that is the rise of non-traditional forms of video, namely connected TV and social video stories, has given advertisers new ways to reach younger audiences cutting the cord.
Digital video growth has played a key role in giving 2019 the strongest opening. Businesses are turning to social video stories and connected TV to reach a growing audience of ‘cord-Nevers’ – a younger cohort who’ve never subscribed to cable television and cannot be reached via linear TV ads. Indicators show CTV and addressable TV are on the rise.
Mobile advertising accounts for the chunk of digital ad spend at $40bn, a 29% increase compared to the previous year.
Audio is on the rise, too. With the growth and advancement of smart speakers and the growing abundance of podcasts, audio spend totaled $1.2 billion, a 30% increase compared to the previous year.