Digital advertising is growing by leaps and billions. According to a recent report from Boston-based consultancy Strategy Analytics, the country is expected to spend $186.6 billion on digital advertising in 2015, an overall 3.2% increase from last year.
RIP Print Media
With digital up, it’s no surprise print advertising (which is predicted to decrease by 7.9% this year) is a major force dragging down the overall growth of media spending. In fact, experts anticipate print will eventually only account for 10% of the advertising market by 2018.
TV is also affected by the boost in digital media dollars. Strategy Analytics expects the TV ad spend to increase only by 1.7%, which is down by 0.6% from last year. This trend is expected to continue as the market channel-surfs from television to online devices in the coming years.
One step forward, two steps back
Although digital ad dollars are up, the overall numbers for traditional media are expected to go down. “Despite digital’s best efforts, the drop in traditional ad revenues means we’ll see fairly modest growth in overall U.S. ad revenues in 2015,” states Michael Goodman, co-author of the Strategy Analytics report which projects traditional media will dip by 0.2% this year. Yet no matter how you slice it, there will be plenty of digital media bread in 2015.