In 2024, 44% of Advertisers Aim to Boost Spending on Content Creators
44%
In 2024, 44% of advertisers plan to increase investment in content creators, as revealed in the inaugural creator economy report by the Interactive Advertising Bureau (IAB) and TalkShoppe. The creator economy holds a valuation of $250 billion and is projected to reach $480 billion by 2027. Creator content is deemed as a premium channel by 92% of advertisers, according to their reported perspectives.
4.6%
Global advertising spending is expected to rise by 4.6% in 2024, reaching $752.8 billion, surpassing the industry's growth in 2023, according to Dentsu's latest forecast. Digital advertising will continue to lead, comprising 58.8% of the market at $442.6 billion, but its growth rate is projected to slow to 6.5% in 2024 and beyond after recently hitting a single-digit rate.
39%
In-store remains the primary method for Gen Z to discover clothing, 39% of US Gen Z clothing buyers have utilized social media for brand and product discovery in the last six months, a higher percentage than the overall population 28.2%. TikTok is the preferred platform for 73.0% of Gen Zers discovering new brands, surpassing Instagram at 69.7%.
1,200
In November, employment in the US advertising, public relations, and related services set a new record for the second consecutive month, with an addition of 1,200 jobs, reaching a total of 504,500, according to Bureau of Labor Statistics. The preceding month, US ad agency employment peaked at 237,900 jobs in October. Additionally, there was notable growth in employment within media streaming distribution services and related sectors.
81%
During Cyber Weekend 2023, ecommerce saw a 23% increase in traffic, with shoppers spending 10% more time on each page and viewing 22% more pages per visit. Sales rose by 4.41% year-over-year, accompanied by a 4.10% increase in average order value. Shoppers were over five times more likely to click on retailers' onsite product recommendations and 81% more likely to engage with personalized content campaigns, showcasing a trend toward more considered holiday shopping.
93%
Teenagers in the U.S. are heavily engaged with YouTube and TikTok, with nearly 1 in 5 using these video-streaming apps "almost constantly," according to a Pew Research Center survey. YouTube is the most widely used platform, with 93% of teenagers regularly using it, and 16% of them stating they access it "almost constantly." TikTok follows closely as the second-most popular app, with 63% of teens using it, and 17% of those indicating nearly constant usage.
5%
Oracle has seen a 5% YoY revenue growth and a 44% increase in net income to $2.5 billion. The company's guidance for the fiscal third quarter includes a 7.6% revenue growth. Oracle's revenue from cloud services and license support increased by 12% to $9.64 billion. Meanwhile, Oracle reported a 52% growth in cloud infrastructure revenue, reaching $1.6 billion, with notable clients such as xAI, Halliburton, and Samsung.