- General
- May 10, 2018
- 4 minutes read
Internet beat TV advertising last year
Online advertising grew to a record rate yet last year, A whooping $88 Billion was spent on online advertising which…
Online advertising grew to a record rate yet last year, A whooping $88 Billion was spent on online advertising which was a record $17 Billion more than what was spent on the huge TV advertising industry last year, This was 21% more than what was recorded in 2017.
Out of this figure, $49.9 Billion was spent on mobile advertising which represents how huge and important the sector has become in the consumer space with mobile video hitting a huge $6.2 Billion spend in 2017 out of a total of $11.9 Billion spent in the whole Digital Video industry.
This data was brought by The Internet Advertising Bureau in a report they recently published.
Search advertising revenue took a huge share of $40.6 Billion, Digital audio grabbing a huge $1.6 Billion from the spend, Digital video taking $11.9 Billion and Social Media grabbing a huge $22.2 Billion from the total spend.
This huge growth in online advertising represents a huge influx of new players into the space majorly made up of small businesses which have seen the internet as a very useful tool for gaining customers even without high budgets, What makes internet advertising amazing is its support of every budget unlike the TV/ Traditional media industry where the budgets come at a very higher price and are mostly purchased by huge companies as compared to small businesses.
Since the advent of the internet, Its advertising industry has grown steadily and heavily till date with exception given to the year 2008 which marked the beginning of the past global recession.
Consumers are constantly turning to the digital industry all around the world with new technologies being invented everyday to provide the best services to advertisers notably self-serve platforms and the huge rise of internet based business round the world.
The report also made it known that the top ten companies in the advertising space grabbed a whooping 74% of the revenue which occurs at a time when so many of them including Facebook and Google have faced controversies recently related to the Cambridge Analytica scandal and Russian interference in the U.S election through social medi which was brought in the actions of so many groups seeking regulations but regardless anyway these companies still continue to beat the revenue expectations and make huge profits for itself and its shareholders.
With the Internet expanding at a very huge rate, We will have extreme innovation coming to us in the next decade than has ever come in just that short span of time in history.
