After years of double-digit growth, U.S. internet advertising spending increased only by a modest seven percent in 2023. The growth was not that low even during the first COVID-19 year. Major AdTech investments are on hold, several global brands dismissed their chief marketing officers (CMOs), and major stakeholders are lying in wait, anxious to see what the cookie-free market will be like in practice. But all in all, the market is doing fine.
, boasting a revenue of over 270 billion dollars in 2023. About eight out of 10 dollars invested in ads in the country were devoted to digital advertising.
was projected to grow in the upcoming years, with sources expecting it to reach 450 billion dollars by 2028. Retail was the
that invested the most in digital advertising accounting for 17 percent of digital ad spending, while pharma and healthcare followed with around 11 percent of all digital ad spending.
Digital ad formats: top players boost the top format
Search advertising is the most profitable and most promising
digital ad format in the U.S., accounting for roughly a third of all digital advertising revenue generated in the country. This is directly related to the fact that Google, the leading search engine in the world, had by far the highest net digital ad revenue among
digital publishers in the U.S., holding 28 percent of the pie. Heavy hitters Facebook and Amazon followed, with the latter’s share of national digital ad revenue being projected to gradually increase over the following years.
Mobile advertising: the blue-eyed boy of U.S. advertisers
Smartphones became the chosen devices for digital advertisers in the United States in 2018, when
mobile advertising spending outperformed desktop for the first time. Since then, the focus of advertisers on mobile has only increased. In 2023, mobile advertising accounted for 66 percent of total digital ad spend in the United States. The two
most invested-in mobile ad formats were search and video, with the former attracting an ad spend of nearly 82 billion dollars and the latter accruing a spend of more than 51 billion. Advertisers have numerous reasons to prefer mobile devices to regular PCs, one of them being
lower penetration rate of ad blockers on smartphones and tablets.
Consumer attitudes: digital ads are a necessary evil
Four out of 10 Americans said they were often
annoyed by advertising on the internet, while 72 percent of TV viewers said they were either indifferent or not comfortable
having ads aimed at them based on their personal preferences. The attitude towards ads appeared to be more lenient among U.S. podcast listeners, with roughly six out of 10 saying they
would not mind a couple of minutes of extra ads per show if it allowed the show to continue. In general, consumers felt they were the
most receptive to ads when on shopping, news, or social media websites.
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