Dive Brief:
- The Interactive Advertising Bureau and PwC US’s New Media Group have released U.S. digital ad spending results for Q1 and it's another record breaking quarter.
- Digital ad spend hit $13.3 billion in Q1 of 2015 -- rising 13% year-over-year from 2014's $11.4 billion.
- David Silverman, a partner at PwC US, attributes the rise to focus, saying, “The rise in year-over-year figures is the direct result of brand and media agencies’ increasing commitment to digital marketing."
Dive Insight:
Digital ad spend has been on a steady rise for the past several years, driven by audience growth and innovations in the space like programmatic and automated buying. EMarketer predicts retail will grow to represent 22% of digital ad spend this year in the U.S., while social media is also a key growth driver in this area. EMarketer predicts social media ad spend will grow 33% this year globally.
“It is clear that interactive has become an imperative in reaching key demographics with tailored messaging and creative," Silverman said.
