In 2021 records were broken. The US advert revenue market soared, and since then there has been a decline. The ad market is still seeing growth, but nothing like the percentages it saw in previous years.
In 2021 there was so much growth following COVID-19 that digital adverts broke records from previous years. However, since then, things have slowed down. Looking into 2022 reports digital advert spending slowed down throughout the year.
Starting in Q1 at a 21.1% growth in 2022, the end of the year, Q4 saw just a 4.4% growth. This dropped significantly from the start of the year to the end. In 2021, advert revenue saw a huge increase to 35.4%.
This was when the world completely went digital. As COVID grew, so did consumer’s need for online stores. Therefore, more businesses were creating adverts. From these adverts came ad revenue. Even though 2022 saw a decrease, it still made a double-digit growth.
No one quite saw the 2021 growth coming. Therefore, they weren’t able to prepare their predictions effectively. Many saw 2022 being a year for things to settle down and balance themselves out. However, it’s left the ad revenue world looking a little hopeless.
There has been continual growth since, but no spikes quite like there was in 2021 and that has left experts believing it will be extremely hard to achieve this level of growth. We might have become used to it, but they say people shouldn’t.
Search revenue grew by 7.8% to $84.4 billion. However, the market share still continued to decrease because buying moved to digital video and display. Businesses were deciding to pay for digital video rather than alternative methods.