In a time where talking assistants such as Siri and the ability to control home appliances with a simple tap on your phone are typical daily assets, it should be no surprise that digital advertisements are now a regular part of our lives. How can this technology be used to the advantage of your business? And how important will digital advertising be in comparison to more traditional advertising methods in the coming years? These questions are vital to the success of your brand and staying up-to-date on upcoming trends. A recent study by the PwC, determined projections for online and offline media advertising through 2019. Here are a few of the highlights below. Plan accordingly 🙂
Online advertising is expected to overtake TV advertising in size in 2019, with the former reaching $83.9 billion on the back of a 2014-2019 compound annual growth rate of 11.15%. As expected, mobile’s share of online ad spend is expected to grow throughout the forecast period, increasing from a forecast 30% share this year to a predicted 46% share in 2019.
TV advertising spending is projected to grow from $69.2 billion last year to $71.1 billion this year and $81 billion in 2019, at which point it will cede its status as the top media advertising market.
The radio advertising market in the US is expected to remain relatively flat over the duration of the forecast period, increasing marginally from $17.4 billion this year to $18.1 billion in 2019.
The consumer magazine advertising market in the US is projected to be valued at $16.8 billion this year, and will remain essentially flat through 2019, when its value is predicted to be $17 billion. Growth in digital advertising will be just enough to offset declining print revenues. In fact, digital advertising is projected to overtake print advertising as the dominant source of consumer magazine advertising revenues in 2019 ($8.7 billion and $8.4 billion, respectively).
The hardest hit of the media types examined, newspaper advertising is the only market expected to decline between this year and 2019, falling from $20.2 billion to $16 billion. Unlike magazine advertising, digital advertising in the newspaper market is simply not growing quickly enough to offset print advertising losses. Forecast to account for 23.6% of newspaper ad revenues this year, digital is expected to grow to 33.9% share of revenues in 2019.