Digital Ad Tech Driving Annual Ad Spend

Digital Ad Tech Driving Annual Ad SpendIn ZenithOptimedia’s new Advertising Expenditure Forecasts, global ad spend is predicted to grow 5.3% to reach $523 billion this year.

Internet advertising is the fastest-growing medium and is poised to expand by 17.1% this year.

New technology is improving internet advertising formats and making internet display more interactive and attention-grabbing, with consumers more likely to view, remember and interact with the ads directed their way.

Additionally, programmatic buying is evolving to allow sophisticated and efficient targeting of display audiences and delivers premium, brand-building experiences.

ZenithOptimedia forecasts that between 2013-2016 traditional display advertising will grow at an average of 15.8% a year, up from 12.3%. Social media display is growing at an average of 29.9% a year and online video advertising is now surging by 24.2% annually.

“Internet advertising is expanding rapidly as new technology makes it easier for advertisers to reach the right people at the right time with the right message, at an efficient price,” says Steve King, ZenithOptimedia’s CEO. “The spread of ever more sophisticated mobile devices will help this expansion continue, sustaining steady growth in global adspend for the next few years.”

All told, internet advertising is projected to command 23.6% of global advertising budgets this year, exceeding the combined share of newspapers and magazines (22.7%). By 2016 it’s expected that the internet will account for 28.3% of global ad spend.