Digital audio was fastest growing channel last year

Consumer time spent and attention on digital media channels continues to increase, with adspend following: digital audio, in particular, showed strong growth in 2021, the latest data from the IAB show, with digital video not far behind.

By the numbers 

• Digital audio advertising revenues in the US leapt 58% in 2021 to $4.87 billion, driven largely by a surge in mobile spending, where ad revenues grew almost three times faster than on desktop (which remains a relatively small market). 
• Digital video advertising revenues (including CTV/OTT) were up 51% to $39.5 billion; mobile continues to account for 69% of this market.
• Display rose 29% to $56.7 billion and search 33% to $78.3 billion.

Context

After the initial COVID-19 pandemic and economic uncertainty in 2020, all media spending (bar magazines) saw a recovery in 2021, but with 35% growth internet advertising is the dominant presence in terms of overall revenue.

The future

The IAB is forecasting continued digital ad growth across channels, from both established and new publishers and platforms, as “digital is inevitably becoming the de-facto media delivery mechanism”.

Sourced from IAB [Image: Pexels]