It's official: digital advertising has overtaken TV advertising revenue (IAB Internet Advertising Revenue Report, 2016). As a medium, digital advertising has grown at super-sonic speed. Here's what the latest statistics reveal:
Meet 'Digital Audio'
For the first time (ever), Digital Audio has its own category and includes online radio stations, music streaming services and podcasts – on desktop and mobile. The sector is expected to grow and should be given serious credence as a new advertising medium for savvy marketers looking to field new ground.
Shop, bank, drive, talk.
The four industries with the biggest internet ad revenues have kept their ground. In order of spend: retail, financial services, automotive and telecommunications. In Africa particularly, these sectors are unlikely to change in the near future.
And I predict financial services and telecommunications – and offerings that incorporate both – are poised to grow.
Social is still for sale.
Social media advertising revenue was around $16bn in 2016, compared with $10.9bn in 2015. However you slice it, that's impressive growth. Like the USA, advertising on social media in South Africa isn't going anywhere – but the platforms available to marketers are growing in number and the methods we adopt are becoming increasingly automated.
Unfortunately, with the increase in numbers of ads comes the inevitable advertising avoidance by consumers. Users' attention is becoming prized real estate, which means content needs to be smarter, more innovative and more engaging than ever before.
Video in the palm of your hand. Digital video continues to dominate with a rise of 53 percent in 2016, which was largely expected. Interestingly, digital video on mobile rose by an impressive 145 percent from 2015.
Multimedia is on a meteoric rise in the context of digital advertising and content marketing. If you were waiting for a sign to start creating an engaging video for your brand, consider this a 145 percent fool-proof signal from the advertising gods.
These results reflect a tipping point: if you're not advertising digitally, you're not advertising at all.