The category notched its largest gains since 2006 for a total of $189 billion even as issues related to the supply chain, measurement and identifiers persisted.
What happened
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Why it matters
The IAB and PwC's annual assessment of U.S. online advertising is the latest to position 2021 as a banner year for the category, with revenue growth rates nearly tripling from 2020. That's partially due to ad spending cratering in the pandemic's early days — budgets markedly declined in the second quarter — with many marketers using 2021 to play catch-up. But key marketing windows also reached new heights in 2021, with the fourth quarter experiencing 20.6% YoY growth to $55 billion amid a flurry of holiday spending.
Government stimulus packages and a reopening economy further buoyed the industry in 2021, according to the research. Census Bureau data cited by the IAB and PwC found that the year saw a record 5.4 million new businesses created, many of them using ad-supported internet services.
"We believe this small business engine will be a key contributor to fueling ongoing digital media and marketing ecosystem growth," IAB CEO David Cohen said in a statement.
This news brief is based on reporting published by Marketing Dive on 2022-04-12. The original report is linked below.
Marketing Dive
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