According to Magna Global, the US ad market grew 25% YoY to touch $284 billion. Pure-play digital ad sales alone increased by 37%. Come 2022; the US ad market will grow further and reach $320 billion. Pure-play digital is expected to grow by 18%.
Similarly, GroupM expects pure-play digital platforms to grow by 39% in 2021. Back in July this year, the company had predicted a 29% growth rate for pure-play digital. Magna Global and Zenith underlined ecommerce as an important driver of investment in the global ad market.
For Zenith, social media ad spend will reach $177 billion next year, with digital channels broadly exceeding 60% of global ad spend for the first time. As per Zenith data, digital ad spend will grow by 14% in 2022.
[4 minute read]