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A new forecast from GroupM projects ad spend to reach $343 billion by 2022, a 9.3% increase from the previous year. This includes political dollars. According to the GroupM report, the U.S. alone will spend $343 billion on advertising in 2022, or 39% of all global ad dollars. The vast majority of those dollars will come from digital advertising, which is expected to hit $200 billion by 2022 and represent 61% of all ad dollars. f95zoneusa
The study noted that political advertising will surpass the record $9 billion spent during the presidential election in 2020. The report says that this will continue to happen despite a recent slowdown in grassroots fundraising. f95zone It also notes that the Republican Party has been making huge donations and that the Democrats are raising grassroots money. It is unclear whether the current slowdown in fundraising will slow down the momentum.
The ad market is changing and growing rapidly. While traditional advertising channels will continue to remain important, social media platforms are taking over. moviesverse Currently, more than one billion people use social media, which will represent a quarter of total digital advertising spend in 2022. The ad spend on social media platforms will account for 25% of e-commerce payments in 2022.
The report also shows that audio ad spending will increase by 5.7% this year. The increase is due to a combination of over-the-air (OTA) and streaming audio formats. Over-the-air audio will account for around $38 billion of the total in 2022. Meanwhile, out-of-home advertising is expected to rise from its pre-COVID high and reach $8.8 billion in the U.S. market by 2022. And while traditional and digital media will see slower growth, these will still remain important segments in the advertising market. f95forum