Advertising Revenue is Projected to Reach $927 Billion by 2024

$927B

As per Manga’s latest global advertising predictions, advertising revenues will hit $927 billion by 2024, which is up by 10%. The U.S. ad market is set to grow by 10.7% to $374 billion, with traditional media owner ad sales increasing by +4.4%.

87.9%

As per eMarketers forecast 87.9% of US Gen Zers are social network users, just behind digital video viewing, and the gap is expected to close soon. 89.3% are on YouTube, followed by Instagram 72.5%, TikTok 71.2%, and Snapchat 70.3%. Smaller platforms like Reddit and Pinterest are also gaining traction, and VR use is rising, presenting new opportunities for advertisers.

17.5%

Survey Omnisend stated that 86% of U.S. consumers trust Amazon, while only 6% trust Temu. Despite the trust issues 68% of U.S. respondents shop on Temu, 53% shop for its prices, 31% for ease of use, and 29% for deals. Globally, 48% have shopped on Temu at least once in the past year, showing that great prices can outweigh trust issues. Some stated that 17.5% of global respondents believe Temu could overtake Amazon as the leading e-commerce platform.

$300 M

Oracle is exiting the advertising business after CEO Safra Catz reported ad revenue fell to $300 million in fiscal 2024, down from $2 billion two years ago. This move presents a "significant opportunity" for other industry players, especially as traditional cookies decline and innovative technologies emerge, according to GumGum's Adam Schenkel.

18.8%

4 in 10 US agencies and marketing professionals have reallocated ad dollars from linear TV to connected TV (CTV), according to March 2024 data by the Interactive Advertising Bureau (IAB). Additionally, 39% moved funds from other traditional channels. US CTV ad spending will surpass 18.8% this year, compared to linear TV's modest 0.7% increase.

32%

A survey led by Sezzle and Retail Dive revealed that consumers prefer buy now, pay later (BNPL) services as it is an affordable payment method, as credit cards have high interest rates and late fees. The survey also finds that 50% of consumers use BNPL for easier budgeting and ensuring cash flow, 32% of consumers use BNPL to avoid high credit card interest rates, and nearly one in three (28%) use BNPL to avoid credit card use and related concerns.

49%

According to LG Ad Solutions survey, 49% of consumers believe they can distinguish AI-generated ads from traditional ones and nearly half (49%) say it is not a concern unless the ad looks authentic on CTV. The survey also highlights that 74% of respondents have noticed personalized ads, while 38% view AI-generated ads as enhancing brand innovation.