As digital media platforms gain share, including the expansion of streaming services, the rise of FAST, and the dawn of the social media era, digital ad revenue is growing.
According to the IAB, digital video's share of annual U.S. TV video ad spending is expected to reach a record 62% in 2024. As the digital advertising market grows, corporate transactions related to digital businesses, including ad tech, marketing tech, and digital content, are at their highest level since the first half of 2022, according to a new study.
The platforms that have seen the most growth in digital video advertising are AVOD, FAST, and Connected TV (CTV). These platforms are expected to grow at an annualized rate of 12.9% in 2024.