This recent study I ran across from eMarketer is just one of many reasons’ businesses need to embrace digital video. If you are a small business owner, it does not matter. Even on a smaller scale, smaller budget smaller everything, you can still use video for your social platforms. Advertisers and marketers now understand in our mobile society how effective digital media is and are spending millions using it. Where is your ad money going? Check out this report. I condensed it to highlight just some of the talking points.
The US ad market will hit two major milestones in 2019: It will be the first year that advertisers spend more on digital than on traditional media, and the first time that Google and Facebook’s share of digital ad spending declines. That’s due to Amazon, which will continue to chip away at the duopoly.
How much will US advertisers spend on digital advertising in 2019?
We expect US digital ad spending to reach $129.34 billion in 2019, accounting for 54.2%of total media ad spending. An accelerated decline in traditional media advertising, particularly TV, has led digital to overtake traditional slightly earlier than we previously predicted.
What formats are driving US digital ad spending growth?
Video will continue to be the major driver of growth, especially on social media. Twitter is one platform that has particularly benefited from video advertising, with its total ad revenues returning to growth in 2018. Spending on OTT platforms like Hulu and Roku will also boost digital video ad spending this year.
What will happen to the duopoly in 2019?
This year will be the first time that Google and Facebook’s combined share of the digital ad market will drop. That said, they will remain the largest digital ad sellers in the country, making up nearly 60% of digital ad spending in 2019, or $76.57 billion.
What about Amazon?
Amazon’s ad business is growing faster than we (and everyone else) expected. In 2019, advertisers will spend $11.33 billion using Amazon’s platform; not as much as on either Google or Facebook, but enough to start making a small dent in the duopoly.
KEY STAT: In 2019, US advertisers will spend $129.34 billion, or 54.2% of their media ad budgets, on digital ads. By 2023, that figure will reach 66.8%
As you can see, digital media (video) is huge. We at FDMC Digital Media can assist your SMB to capture your deserved market share you may be missing in the digital platforms. While this report obviously is using figures on a national scale, your small business in your local area is part of that mix. Feel free to reach out to us. You probably have many questions and we have the answers.
TAGS: #advertising, #marketing, #digital media, #mobility, #video