Insurers will lead the financial services pack on digital ad spend in 2024, buoyed by healthy profits. But a looming climate crisis will make their ad spend bonanza short-lived.
Amazon鈥攖he largest driver of spending in this channel鈥攈as recently seen modest retail media revenue growth relative to its past performance. As a result, we have revised our retail media forecast down from where it was in H1 2024.
Temu tests search ads in latest attempt to chip away at Amazon鈥檚 dominance: The lucrative revenue opportunity could offset rising costs related to de minimis crackdowns and tariffs.
Retail has come off its lengthy run of outperforming overall US ad spending growth. While growth will dip below the average for all industries in 2024, the pace is set to pick up again in 2025 and 2026.
The second-largest digital advertiser among industries will post strong ad spending growth in 2024, but deceleration is on the horizon, and its various subcategories have starkly different outlooks.
After an unexpectedly solid 2023, the good times will continue for ad spending in most US industry verticals in 2024. Telecom will lead in growth, and numerous categories will outpace their 2023 increases. A few unusual results are on tap as well.
The number of companies generating more than $1 billion in annual US CTV ad sales more than doubled from two in 2020 to five in 2024. With ad dollars spreading out among services, a few streaming platforms stand out because of their heavy usage.