Video leads the way in the strongest opening six months in US digital adspend history
Video has propelled digital ad spend in the US to an all-time high.
That’s according to a new report published by the IAB and PwC this week, which suggests spend in digital advertising in the first six months of 2019 hit a record-breaking $57.9Bn, with a surge in video the main contributing factor.
Video ad spend totalled $9.5Bn in the first half of the year, making it the fastest-growing at 36% YOY growth.
“Digital video growth has played a key role in giving 2019 the strongest opening six months in digital’s history,” says Sue Hogan, Senior Vice President, Research and Analytics, IAB.
“Increasingly, advertisers 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.”
Meanwhile, mobile advertising continues its rapid rise, reaching $40Bn for the first half of the year—a 29% increase from the same period last year.
Audio, thanks to the continued popularity of smart speakers, also saw YoY growth of 30%.