Expenditures on platforms like TikTok and Instagram will jump to $177 billion next year to top television, which will account for $174 billion, according to the media agency's global forecast.
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In the U.S., ad expenditures will jump 13.8 percent this year to $285.2 billion, when assuming constant prices, after a 2.2 percent drop in 2020, according to the Zenith model. Ad spending will expand 8.4 percent in 2022, followed by 1.8 percent the following year and 6.4 percent in 2024 to reach $364.9 billion.
Digital ad dollars are continuing to grow particularly fast globally. “Social media will lead the market with 14.8 percent annual growth to 2024,” while online video will improve by 14.0 percent a year, according to the Zenith prognosticators. “COVID-19 setbacks have extended the period of heightened digital transformation,” the agency stated. “The pandemic has thoroughly disrupted shopping habits. Many consumers who would prefer to browse and purchase in person are shopping online by necessity.
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