For the first time in digital history, online advertising in the United States crossed $100 billion in the year 2018 as per the latest Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PWC) report.
Precisely, the total digital spend was at staggering $107.5 billion in the country, which is a whopping 22% jump from the year 2017. Video advertising grew 37% to account for $16.3 billion spending while mobile advertising spend became the most powerful at $69.9 billion, growing 40% year-over-year.
Mobile ad spending had struggled earlier to keep up with the time spent on those devices, however that uniformity is almost around the corner as per Sue Hogan, Senior Vice President of Research & Measurement at the IAB, with eyeballs following dollars spent.
So an obvious reassessment; what happens when ad dollars catch up to consumer attention, will the growth slow down? David Silverman, the PricewaterhouseCoopers partner was quick to concede that similar to the past, the advertising industry will evolve in the future as well.
Pointing towards new shifts, David Silverman highlighted the out-of-home advertising, growth in online audio advertising which was up 23% to $2.3 billion and advertising to new gadgets.
David suggested that its still too early to mention the accurate financial impact of GDPR and other privacy regulations on the digital ad spending in the country, however there definitely will be a significant influence, especially on the use of data and artificial intelligence technology which will further make advertising more appropriate and more productive.