In 2023, Advertisers are Forecasted to Spend $509 Billion.

10%      

Netflix has seen progress on an ad-supported tier that launched in November and further the company will prioritize improvements in ad delivery validation, measurement and targeting. Netflix predicts ads will eventually drive at least 10% of $30 billion in revenue. 

6% 

As per Winterberry Group findings, advertisers are forecasted to spend $509 billion in 2023, up 6% from $481 billion the prior year. About 60% of $307 billion, is expected invest in online channels and CTV is to be a big recipient of investments, growing at a rate of 27%. 

61.3%  

As per Pew Research Center, in the US, 61.3% of Gen Z use TikTok at least once a month, 58% of those aged 13 to 17 visit at least once a day, and 16% access constantly. At least 25 US state governments, the US military, the State Department and dozen higher education institutions have banned the app.  

500  

After Elon Musk took over as head of Twitter, more than 500 of its top advertisers have stopped spending on the platform. In Q4 the revenues had fallen 35%. The company predicts to hit $732 million in revenues during the current Q1 which is a 39% decrease from the prior year. 

3.6%

As eMarketers predicts US adults spent 3 hours and 26 minutes on smartphones this year, up 3.6% from 2022.  US adults will spend $470.97 billion in retail mcommerce sales this year, up 13.2% from 2022. Mobile AR advertising will grow from $4.1 billion in 2022 to reach nearly $10 billion by 2026. 

50%

Disney Advertising President Rita Ferro announced that this April, Disney is going to roll out some of Hulu's ad targeting capabilities to Disney+. Disney is trying to streamline its back-end ad tech business as it works to automate 50% of its ad sales. Now they are at 35% and planning to achieve the rest 15%. The Disney OTT platform has $1.02 billion in revenue. 

1800  

Alphabet-owned Google announced that the company lay off over 1,800 jobs in its home state California. It is roughly 6% of the 12,000 employees of the full-time workforce. 1,436 jobs were cut in Mountain View, while 119 were in San Bruno, Palo Alto saw 53 cuts.