Join our panel as we explore how the advertising industry and social networks are paving the way for a safe and secure election cycle. Panelists will share strategies for:

• Upholding transparency best practices
• Communicating brand values, while complying with policies and leveraging brand safety and suitability tools
• Maintaining consumer trust and evolving community guidelines and content moderation practices

Don’t miss this critical discussion on the role of social media in supporting a healthy democratic process, and learn from industry leaders how platforms and brands can unite around civic integrity.

The post Election Readiness in the AI and Social Era appeared first on IAB.

Here are some key takeaways from the event:

Massive Audience, Undermonetized Market: Podcasts boast an impressive reach, with 135 million monthly listeners in the U.S. and nearly 100 million tuning in weekly. They also capture a significant share of listener time, averaging 8.3 weekly episodes (approximately 6.5 hours). However, advertising spending pales in comparison to this impressive audience. Only 9% of audio media consumption currently translates to ad revenue, highlighting a significant “monetization gap” the industry needs to bridge.

Investing in the Future: The good news is that the outlook for podcast advertising revenue is positive. While growth slowed in 2023 due to economic factors, it’s projected to reach $2 billion this year and climb to $2.5 billion by 2026. Additionally, early data from Q1 2024 shows a promising upward trend in podcast ad spend. Part of the story behind the strong outlook is increasing innovation and the adoption of podcast measurement capabilities. Because podcasts are primarily consumed via progressive downloads rather than streamed, the buying community has sometimes found podcasting to be more difficult to measure than other digital media, but the deployment of increasingly sophisticated pixel-based attribution is enabling measurement of multiple KPIs compared to other channels and giving podcasters a more prominent seat at the media planning table.

Content is King (and Queen): Podcasting continues to diversify, catering to various interests. Comedy and sports remain the top genres, with news, society, and culture following close behind. This diversity gives advertisers a rich tapestry of opportunities to tailor their messages to specific audiences.

Sports Domination: Sports podcasting is experiencing explosive growth in listenership and advertiser investment. Popularity is driven by sports fans’ passionate and engaged nature and the explosion in sports content supply. ESPN brought its A list, hosted by Mike Greenberg, including Adam Schefter, Brian Windhorst, and Clinton Yates, sharing its upcoming lineup and investment in Women’s sports. Better Collective portfolio, a network specialized in sports, also talked about its launches and successes, including The Big Podcast with Shaq.

Beyond Host-Reads: Ad formats are evolving beyond basic pre-rolls and mid-rolls. Live podcasting, branded episodes, experiential activations, and social media integration are increasingly utilized to create a more immersive and engaging brand experience for listeners.

The Power of Storytelling: With programmatic buying growing, there is a bigger emphasis on emotionally resonant narratives over audience size. The ability to connect deeply with listeners is key to success. This shift prioritizes quality content that fosters a loyal audience. Highly engaged listeners are more receptive to advertising messages, leading to better campaign outcomes. To display such storytelling momentum, the Podcast Upfront stage was a star-studded gathering of the industry’s biggest host names, like John Allen, AKA MrBallen from “Strange, Dark & Mysterious Stories” (Wondery), Cam Jordan from “Off The Edge” (iHeart), Ben Shapiro from “The Ben Shapiro Show” (DailyWire), Phill and Matt Simms from “Simms Complete” (Cumulus), amongst others. Another big moment was when Jon Stewart announced the launch of his new podcast, “The Weekly Show with Jon Stewart”, through Paramount Audio.

Hollywood Shift: The line between podcasts and traditional media is blurring, with hit podcasts transitioning to TV series, attracting big players like Hollywood studios, and altering content creation. Wondery, for example, showcased multiple partnerships with Peacock, AppleTV, FX, and Amazon MGM Studios. These collaborations aren’t just about podcasts becoming TV shows. We’re also seeing video-based programs adding podcast components to their offerings. This trend suggests the growing influence of podcasts and the potential for cross-platform storytelling strategies.

AI’s Rise in Podcasting: Artificial intelligence is poised to transform the industry through innovative targeting methods, dynamic audience optimization, and personalized ad creative. One of the most important ways this transformation is already playing out is using AI transcription analysis which has dramatically improved brand safety and suitability assessments by analyzing context beyond isolated words, opening doors for more advertisers. Some partners also bring AI innovations together in unique, bundled solutions that allow advertisers to supercharge their podcast measurement and targeting. One example was a joint presentation from the integrated marketing optimization powerhouse Claritas, and Horizon Media about a new audio analytics solution to assess digital audio and podcasting’s contribution to client KPIs.

Diversity and Inclusion Take Center Stage: Authenticity and diverse narratives are critically important drivers of listener engagement and advertiser success in podcasting, which reaches multicultural audiences through inclusive storytelling, fostering a sense of representation that is not always as evident in other forms of media. Some examples of podcasting’s unique offerings for multicultural audiences highlighted at the Upfront included iHeartMedia’s Charlamagne tha God discussing the “Black Effect” podcast network and presentations from Pod Digital Media and Sonoro Media.

The 2024 IAB Podcast Upfront reminded us of podcasting’s immense potential. Despite the slowdown in ad revenue growth, the industry remains optimistic. The continued growth of listenership, the increasing popularity of video podcasts, and the potential of live events all point to a bright future for podcasting. Investing in improved measurement analytics, leaning more into programmatic buying, and exploring additional revenue streams will be crucial for continued growth.

The post The Power of Storytelling: IAB Podcast Upfront 2024 Rings in a New Era appeared first on IAB.

Key takeaways:

• After years of double-digit increases, 2023’s overall challenging ad market slowed podcast’s growth.
• Podcasting is projected to grow 12% to over $2B this year and reach nearly $2.6B by 2026. The evolution of programmatic along with new revenues from video and live events, will help drive growth.
• A high volume of smaller categories continue to showcase the channel’s growth and appeal to a broad range of advertisers.​
• For the second straight year, comedy and sports outrank news as production grows and listeners turn to lighter topics.​

Download the full report to gain insight into podcast ad revenue trends and projections, breakouts by ad category and content genre, and for key industry developments and recommendations for how to capitalize on these trends.

The post U.S. Podcast Advertising Revenue Study: 2023 Revenue & 2024-2026 Growth Projections appeared first on IAB.

New York – May 9, 2024 – After consecutive years of healthy double-digit growth, podcast ad revenues grew at a slower pace in 2023 posting a modest revenue increase of 5% to $1.9 billion, according to IAB’s “U.S. Podcast Advertising Revenue Study: 2023 Revenue & 2024-2026 Growth Projections.”

This was due in large part to a challenging advertising climate that particularly affected mid-tier companies, resulting in losses that tempered the sector’s overall growth trajectory.

The eighth annual IAB U.S. Podcast Advertising Revenue Study, prepared for IAB by PricewaterhouseCoopers LLP (“PwC”), quantifies annual podcast advertising revenues generated over the past year, analyzes revenue share by ad category and content genre, and forecasts future revenues through 2026.

“While a few of the largest podcast companies maintained double-digit growth, mid-tier companies hit a speed bump,” said Chris Bruderle, VP, Industry Insights & Content Strategy, IAB. “But revenue is already bouncing back.”

Podcasting is projected to return to double-digit growth (12%), with revenues of over $2B this year. It is on track to reach nearly $2.6B by 2026. Publishers will fuel growth through various initiatives, including measurement, programmatic, live events, more aggressive show promotion, and the continued development of video podcasts.

Comedy and Sports are Top Performers

Likely aided by shows from notable comedic personalities, comedy’s revenue share grew by four points in the past two years and is now among the most-listened-to podcast genres (overtaking news and sports) and gained nearly 300 new advertisers in Q4 2023 alone.

Sports is the second most popular content genre for the second straight year, down slightly from 2022 (15%) to 13%.

“Between comedy and sports, consumers are using podcasts to be entertained and delighted – which provides a sanctuary from other serious headlines playing out across the nation and the world”, said David Cohen, CEO, IAB. “It’s where the greatest engagement and subsequent ad dollars are.”

CPG and Retail Brands Boost Revenue

CPG and retail brands revenue was up 4% and 5% respectively since 2022. Advertisers are shifting to digital platforms like podcasting that enable more direct connections with consumers.

Diversity Remains a Unique Strength

The wide variety of subjects podcasting addresses and the unique rapport between podcasters and their listeners continue to make the medium uniquely attractive for advertisers who need to reach niche audiences.

More than a quarter of podcasting revenues were in the “other” category, such as government, non-profit, pets, home, and more. These individual categories are often small but are so highly targeted that they are very appealing to advertisers who need to reach a niche audience affordably.

“Podcasts deliver at scale, can pinpoint niche audiences, and have the power to build authentic connections with consumers,” continued Cohen. “And as audience measurement in podcasting becomes more aligned with other digital channels, there’s more growth ahead.”

The full IAB U.S. Podcast Advertising Study can be downloaded here.

Methodology
A quantitative, online survey was sent to leading podcast industry professionals in February to understand 2022 podcast advertising revenues, revenues by industry category and content genre, as well as forecast revenue growth for the next 3 years. As in prior years, this coincided with a podcast advertising market-sizing to deliver an estimate of the market in the United States, inclusive of non-survey participating companies.

About PwC
As business, accounting, and tax advisors to many of the world’s industry leading technology, media, and telecommunications (TMT) companies, PwC (www.pwc.com/us/tmt) has an insider’s view of trends and developments driving the industry. With approximately 1,200 practitioners serving TMT clients in the United States, PwC is committed to providing clients with industry experience and resources. In recent years, our work in TMT has included helping our clients to develop strategies to leverage digital technology, identifying new sources of financing, and marketplace positioning in industries characterized by consolidation and transformation. Our experience reaches across many geographies and segments, including broadband, wireless, film, television, music, publishing, advertising, gaming, sports, theme parks, computers and networking, software and technology services. With thousands of practitioners around the world, we’re always close at hand to provide deep industry knowledge and resources.

About IAB
The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

IAB Media Contacts
Brittany Tibaldi / Michael Vaughan
347-487-6794 / 813-210-1706
btibaldi@kcsa.com/mvaughan@kcsa.com

The post Podcast Revenue Growth Slowed in 2023, Will Return to Double-Digit Growth in 2024, According to IAB’s U.S. Podcast Advertising Study appeared first on IAB.

Key takeaways:

• After years of double-digit increases, 2023’s overall challenging ad market slowed podcast’s growth.
• Podcasting is projected to grow 12% to over $2B this year and reach nearly $2.6B by 2026. The evolution of programmatic along with new revenues from video and live events, will help drive growth.
• A high volume of smaller categories continue to showcase the channel’s growth and appeal . . .
  

  Claim your free account to continue reading. Log In or Create Account   If you have an IAB Portal account, please create a new account on iab.com and we will link to your records. To create a new account, please click here. If you have any issues, please contact us.

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  ]]> https://www.iab.com/blog/iab-newfronts-2024-a-glimpse-into-the-evolving-digital-landscape/ Wed, 08 May 2024 22:00:50 +0000 https://www.iab.com/?post_type=iab_blog&p=182748 The 2024 IAB NewFronts wasn’t just about the latest video advertising trends and innovations; it was a star-studded gathering of the industry’s biggest names. Music fans rubbed shoulders with Meghan Trainor and Kane Brown, while television enthusiasts saw A-list actors on stage like Jessica Alba, Tracee Ellis Ross, and Bryan Cranston. Industry titans like Anna … Continued

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  ]]> The 2024 IAB NewFronts wasn’t just about the latest video advertising trends and innovations; it was a star-studded gathering of the industry’s biggest names. Music fans rubbed shoulders with Meghan Trainor and Kane Brown, while television enthusiasts saw A-list actors on stage like Jessica Alba, Tracee Ellis Ross, and Bryan Cranston. Industry titans like Anna Wintour and elite athletes Tobin Heath and Angela Ruggerio shared the stage with the hottest up-and-coming platforms, fostering a vibrant exchange of ideas about the future of video advertising.

  The overarching message from IAB NewFronts was clear: collaboration is key. Partnerships between platforms, content creators, data providers, and measurement firms will be crucial for navigating the complexities of the evolving digital video landscape. However, a recurring theme emphasized the importance of the human touch alongside AI advancements. While AI offers powerful tools for content creation, audience targeting, and measurement, human creativity, and emotional intelligence remain paramount for crafting effective and engaging advertising. Further solidifying this theme, human connection and authenticity were consistently highlighted as the foundation for successful media engagement, with compelling content and relevant audiences at the forefront. In addition, diverse partners across various backgrounds issued a strong call for allyship, emphasizing the need for inclusive storytelling and representation to resonate with a multicultural audience. And finally, there was a strong sense that digital video advertising has broken the constraints of traditional screens and plays a growing role in out-of-home locations. This collaborative spirit, where human expertise guides AI innovation and empowers diverse voices, will drive a thriving digital video advertising future.

  Here’s a closer look at some of the biggest takeaways from the four-day event:

  Day 1: Collaboration, Redefining News, and Embracing Change

  • Partnerships Drive Innovation: A recurring theme was the need for collaboration in the increasingly fragmented video marketplace. Google showcased its evolving approach, acknowledging the importance of industry collaboration and fostering new partnerships to deliver client success. Vizio, which controls hardware, software, and data, emphasized how this integration optimizes the user experience and paves the way for ad and discovery innovation on its platform.
  • Rethinking News Consumption: The “IAB Spotlight On: News at NewFronts” panels addressed the crucial role of journalism in preserving a healthy democracy. They challenged media buyers to move beyond outdated strategies like fixed blocklists and explore the diverse content opportunities within trustworthy news—everything from recipes to lifestyle and entertainment segments.

  Day 2: First-Party Data, CTV Growth, and Content as King

  • Harnessing First-Party Data: T-Mobile showcased its mobility data, including app usage, frequency, and time spent, combined with media placements across various touchpoints – home (wireless and TV), mobile, and in-store (digital out-of-home). Samsung echoed this, highlighting its ability to connect devices, software, hardware, content, and proprietary first-party data to create a holistic user experience.
  • CTV Takes Center Stage: The continued rise of CTV was evident. Samsung TV Plus emerged as a major contender in the streaming realm, offering a diverse content library in sports, kids, gaming, music, news, and more. Roku emphasized the power of the “lead in” in CTV, arguing that their platform-enabled content drives greater attention to the CTV content they host. They do this by leveraging data and technology to bridge the gap between first impressions and transactions while addressing crucial industry challenges like audience fragmentation and efficient ad delivery. Roku also introduced its partnership with The Trade Desk, blurring lines between the open web and CTV ecosystems.

  Day 3: Embracing Change and Redefining Success

  • Digital Video Ascendant: The most significant takeaway might be the projected shift in dominance, with digital video surpassing linear TV for the first time in 2024 (52% vs. 48%). This reinforces the need to shift mindsets and explore new video advertising strategies.
  • The Power of Creators and Diverse Storytelling: Creators have become a robust channel for reaching audiences. The importance of authenticity and diverse narratives resonated throughout the event, with presentations highlighting the need to cater to multicultural audiences and embrace inclusive storytelling approaches like those targeting Hispanic and LGBTQAI+ communities.
  • Human Connection at the Forefront: Several discussions emphasized that human connections should guide media decision-making, focusing on compelling content and relevant audiences. Ad innovation also took center stage, aiming to address user experience concerns and create engaging ad experiences. Snap, for example, presented how they are using augmented reality (AR) and focusing on real-life connections to create a positive environment for brands. They introduced innovative ad formats with integrated AR experiences, tools for faster AR asset creation, and a new creator accelerator program focused on underrepresented communities. Additionally, Snap announced partnerships to bring AR experiences and creator content to the Paris Olympics and launched the Snap Sports Network, a channel featuring unconventional sports and user-generated content.

  Day 4: Sports, AI, and Emerging Platforms

  • Empowering Women’s Sports: The first-ever Women’s Sports-Focused NewFronts highlighted the significant growth of women’s sports despite a fragmented broadcast landscape. Sports Innovation Lab called for greater industry support and showcased its marketplace platform with inventory, team and athlete partnerships, and audience data solutions.
  • Enhancing Creativity with AI: Meta emphasized the power of AI in fueling creative development, media buying tools, and creator discovery on platforms like Reels. New ad formats advancing direct response were also introduced.
  • Video Entertainment at the Core: TikTok presented its case as a vital video entertainment platform, not just social media, highlighting its role in product discovery. Additionally, they presented tools like the TikTok channel forecaster and a new partnership with iSpot.tv for measuring incremental reach to linear TV.

  Looking Ahead: A Collaborative Future Powered by Innovation

  As you probably have noticed by now, Connected TV expansion and opportunities, retail media networks, AI innovation, and sports partnerships were present in almost every presentation during NewFronts. Despite these clear “winners”, some challenges in making sense of a very complex ecosystem for buying and measurement were also raised, like inventory fragmentation, frequency management, true cross-media measurement, evolving privacy regulations, and targeting limitations.

  The 2024 IAB NewFronts offered a clear vision—the digital video advertising ecosystem thrives on collaboration. We heard from companies that are in the business of redefining the future of digital video. Some through content, others through data. Some through new uses of technology, ad innovation, and still others through new business models. Many through partnerships. In the spirit of “a rising tide lifts all boats,” it becomes clear that if the industry comes together to improve some practices, every participant in the ecosystem will be in an improved position.

  With all this dynamism, we are at an incredibly important point in our industry’s evolution. We are moving from old models to new models in everything we do. There’s great growth ahead. As David Cohen, IAB CEO, said in his opening remarks, we will only get there if we heed John D Rockefeller’s words of wisdom: “Don’t be afraid to give up the good to go for the great.”

  The post IAB NewFronts 2024: A Glimpse into the Evolving Digital Landscape appeared first on IAB.

  ]]> https://www.iab.com/blog/spotlight-on-news-at-newfronts/ Wed, 01 May 2024 12:03:38 +0000 https://www.iab.com/?post_type=iab_blog&p=182274 NewFronts week kicked off on Monday, April 29 with a new twist – “IAB Spotlight On: News at NewFronts”. IAB brought together leading news organizations to discuss the importance and power of news and to push marketers to rethink their approach to (not) supporting news with their marketing dollars. David Cohen, CEO, IAB began the … Continued

  The post IAB Spotlight On: News @ NewFronts Highlights Marketers’ Role in Supporting a Healthy Media Ecosystem appeared first on IAB.

  ]]> NewFronts week kicked off on Monday, April 29 with a new twist – “IAB Spotlight On: News at NewFronts”. IAB brought together leading news organizations to discuss the importance and power of news and to push marketers to rethink their approach to (not) supporting news with their marketing dollars. David Cohen, CEO, IAB began the discussion with some dire statistics. There are more unemployed or underemployed journalists today than ever before in our history. He talked about “news deserts” where certain cohorts of people have limited access to news. This is especially true for local news where more than 200 counties have no local news and another 1,500 have only a single news source. This leaves people seeking news in non-traditional and often non-trustworthy environments.

  CEOs from five leading news organizations (BBC, CNN, NBCUniversal, The New York Times, and NPR) spoke about the importance of a healthy news ecosystem. Each said that strong journalism equals a strong democracy. When discussing how the news model must change as consumer viewing migrates from linear/print to digital platforms, they spoke about how news is a very broad umbrella for many happenings in life. One panelist even said, “News is life; it’s about everything.” The headlines often steal eyeballs and create the impression that news is always polarizing. But the CEOs talked about how news is about storytelling across many genres: sports, cooking, travel, business, health, parenting, and much more. Under the news umbrella there is something for many different audiences.

  The news organizations also acknowledged that they must approach storytelling in new ways to meet people where they are today. Their key message was that they are innovating. They are moving into streaming, long-form storytelling, and niche content with authentic personalities. They are driving local, national, and international storytelling. But their message was direct that they need advertiser funding to stay in business. While they each now have multiple revenue streams (NYTimes even has a gaming revenue stream), they need marketers to support their content to drive their business.

  After the CEOs spoke, we heard from the buy side of the business. And advertisers’ message was clear – news can be a powerful vehicle to reach their audience and it is incumbent upon all marketers, ad tech, and publishers to ensure the proper tools exist to protect marketers from appearing next to content that does not reflect their brand values. Marketers are more than willing to support news if they can be assured that their brand will only be in environments that they deem appropriate. One agency executive spoke about how she had a new client who hadn’t reviewed and updated their news guidelines/block list since 2016. No wonder marketers are hesitant to support news when their guidelines are so far out of date.

  The final panel of the day was a CRO panel that focused on what publishers are doing to help protect marketers. Some publishers are adding semantic targeting and enabling negative sentiment targeting in blocklists. This will help marketers from having too blunt of a tool to protect their brand placements. News offers a wide variety of content and brands now have a better way to control their brand placements.

  This “spotlight” on news is important for our industry. The CEO from BBC shared that outside of their building, there is a statue of George Orwell, author of 1984, with the following quote etched onto it: “If liberty means anything at all, it must mean telling people things they do not want to hear.” That is the value of reputable, trustworthy news. It’s fine to talk about news being about everything and much more than the headlines – but headlines grab people’s attention. And if we learned anything from George Orwell, it is that the unimaginable can be real if we stop talking about what matters. In Animal Farm, Orwell famously said, “All animals are equal, but some animals are more equal than others.” This is the dystopia that can arise when we live within our news echo chambers and resist the willingness to go beyond what is in front of us and confront good and evil in equal measure.

  I for one loved this new format that emerged from the IAB NewFronts this year. Shining a spotlight on critical issues that drive not only our industry, but our survival seems like a great innovation. Kudos to all that participated in this endeavor.

  IAB Spotlight On: News @ NewFronts (Watch VOD)
  

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  ]]> https://www.iab.com/research/2024-digital-video-ad-spend-strategy-report/ Thu, 25 Apr 2024 13:26:23 +0000 https://www.iab.com/?post_type=iab_research&p=181936 The IAB 2024 Digital Video Ad Spend & Strategy Report | Part One: Market Size & Growth Projections provides a lens into the trends within the TV/digital video market and offers guidance for buyers and sellers on how to position and differentiate their strategies based on the market opportunity.​ And for the first time ever, … Continued

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  ]]> The IAB 2024 Digital Video Ad Spend & Strategy Report | Part One: Market Size & Growth Projections provides a lens into the trends within the TV/digital video market and offers guidance for buyers and sellers on how to position and differentiate their strategies based on the market opportunity.​ And for the first time ever, this year’s report includes category-level ad spend projections.

  IAB partnered with Guideline, which leveraged ad billing data, other market estimates, and an IAB-commissioned Advertiser Perceptions quantitative survey of TV/digital video ad spend decision-makers to generate these results.

  This report, the first of two in 2024, focuses on the ad spend market size and growth projections for digital video in the U.S. including CTV, social video, and online video (OLV).

  The post 2024 Digital Video Ad Spend & Strategy Report appeared first on IAB.

  ]]> https://www.iab.com/news/digital-video-ad-spend-growing-nearly-80-faster-than-media-overall Thu, 25 Apr 2024 12:30:32 +0000 https://www.iab.com/news/?p=181714 Digital Video Ad Revenue Projected to Reach $63B in 2024 New York – April 25, 2024 – Total digital video advertising spend, including Connected TV (CTV), social video, and online video (OLV), is projected to grow 16% in 2024 — nearly 80% faster than total media overall*. In total, digital video ad revenues are expected … Continued

  The post Digital Video Ad Spend Growing Nearly 80% Faster than Media Overall, According to IAB Video Ad Spend and Strategy Report appeared first on IAB.

  ]]> Digital Video Ad Revenue Projected to Reach $63B in 2024

  New York – April 25, 2024 – Total digital video advertising spend, including Connected TV (CTV), social video, and online video (OLV), is projected to grow 16% in 2024 — nearly 80% faster than total media overall*.

  In total, digital video ad revenues are expected to reach $63B in 2024, according to IAB’s “2024 Digital Video Ad Spend & Strategy Report”.

  In the last four years, the share of ad spend has shifted by nearly 20 percentage points from linear TV to digital video, which is now 52% of the total market share.

  Social Video is the Strongest Video Growth Category; CTV Projects Double-Digit Ad Spend Growth

  Social video is on track toward its second year of 20% year-over-year (YoY) growth, and is projected to rise to $23.4 billion.

  ​​CTV exceeded $20 billion for the first time in 2023, and is expected to grow by 12% to $22.7 billion in 2024, 32% faster than total media overall. While dollars flowing into CTV primarily come from reallocations – particularly linear TV and other traditional media —31% of increased spend comes from overall expansion of advertising budgets.

  “Among the largest ad spenders, CTV (69%) and social video (70%) are considered ‘must buys’ because of their ability to deliver both scale for branding at the top of the funnel and performance outcomes at the bottom of the funnel,” said Chris Bruderle, VP, Industry Insights & Content Strategy, IAB.

  

  CPG and Retail Will Be The Fastest Growing Contributors To 2024 Digital Video Growth

  For the first time ever, this year’s report includes category-level ad spend projections. CPG and Retail will post double-digital ad spend growth YoY, at 20% and 30% respectively, while also generating the largest total ad spend. CPG brands are leveraging CTV’s increased scale, ability to connect with consumers directly, and streaming companies’ partnerships with retail media networks. Auto, financial, restaurants, B-to-B, travel, and wellness are all up more than 20%, though on a smaller base. Most categories overall project double-digit growth vs. 2023.

  “Advertisers go where consumers are, and today that means digital video,” said David Cohen, CEO, IAB. “The challenge ahead is this: in a crowded landscape, who can deliver the best viewing experience, with the best content choices and the most innovative advertising options? That competition is ultimately good for consumers and good for the industry.”

  To create the report, IAB partnered with Guideline (which leveraged ad billing data) as well as data from an IAB-commissioned Advertiser Perceptions quantitative survey of TV/digital video spend decision-makers, and other market estimates.

  The “2024 Digital Video Ad Spend & Strategy Report” is available here. Part 2 of the report, which will be released on July 15th during the IAB Media Center’s Video Leadership Summit, will dive deeper to provide insights into strategies driving activation and measurement.

  *Per Magna, Spring 2024 (+8.7%) and IAB (+9.5%)

  About IAB
  The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

  IAB Media Contacts
  Brittany Tibaldi / Michael Vaughan
  347-487-6794 / 813-210-1706
  btibaldi@kcsa.com/mvaughan@kcsa.com

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  ]]> https://www.iab.com/insights/video-ad-spend-report-2024/ Thu, 25 Apr 2024 12:15:23 +0000 https://www.iab.com/?post_type=iab_insight&p=181754 The IAB 2024 Digital Video Ad Spend & Strategy Report | Part One: Market Size & Growth Projections provides a lens into the trends within the TV/digital video market and offers guidance for buyers and sellers on how to position and differentiate their strategies based on the market opportunity.​ And for the first time ever, … Continued

  The post 2024 Digital Video Ad Spend & Strategy Report appeared first on IAB.

  ]]> The IAB 2024 Digital Video Ad Spend & Strategy Report | Part One: Market Size & Growth Projections provides a lens into the trends within the TV/digital video market and offers guidance for buyers and sellers on how to position and differentiate their strategies based on the market opportunity.​ And for the first time ever, this year’s report includes category-level ad spend projections.

  IAB partnered with Guideline, which leveraged ad billing data, other market estimates, and an IAB-commissioned Advertiser Perceptions quantitative survey of TV/digital video ad spend decision-makers to generate these results.

  This report, the first of two in 2024, focuses on the ad spend market size and growth projections for digital video in the U . . .

  Claim your free account to continue reading. Log In or Create Account   If you have an IAB Portal account, please create a new account on iab.com and we will link to your records. To create a new account, please click here. If you have any issues, please contact us.

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