June 27, 2018 | Contributed by: Courtney Dobson
For the first time ever, projected 2019 data is showing that consumers will spend more time online than watching TV. This worldwide shift will subsequently result in an increase in Internet ad spending, as that’s where consumers will be spending a greater portion of their time. Mobile usage is said to be a driving factor in this upsurge.
According to a PwC June 2018 report, “Global Entertainment & Media Outlook,” internet advertising will be 70% larger than TV advertising by 2020, reaching nearly $130 billion. Additionally, $5.7 billion of TV’s ad spend will come from digital and other traditional media like radio and magazine are also expected to grow digital revenues, $2.2 billion and $7.1 billion, respectively.
The growth rate for internet advertising is substantially greater than the various other media channels, but traditional channels appear to be incorporating digital options for advertisers and are making progress. The bigger challenge these traditional channels face is attracting a meaningful digital audience in an already extremely noisy and disruptive media landscape.