PricewaterhouseCoopers has published its latest report for ad-industry body the Interactive Advertising Bureau (IAB) tracking US digital-advertising revenues in the first half of 2018.
The key figures: digital ad revenues in the US grew by 23.1% in the first half of this year to $49.5bn, which puts the market on course for a $100bn year for 2018 as a whole, given the likelihood of a bump before Christmas. Mobile advertising revenues grew by 42% to $30.9bn, thus accounting for 62.5% of all digital ad revenues in the first half of the year.
All this is relevant to our industry because of ad-supported streaming services, from Spotify and Pandora to YouTube. Digital video ad revenues grew by 34.8% to $7bn in the first half of this year, while digital audio revenues – particularly relevant to Spotify and Pandora – grew by 30.6% to $935m. Bear in mind that the latter figure is just 1.9% of total digital advertising spend (which if you’re an optimist, screams ‘ROOM TO GROW!’) Note, according to its financial results, Pandora’s advertising revenues actually shrank by 3.2% to $485.6m in the first half of 2018.