The IAB's 2024 Internet Ad Revenue Report reveals a record revenue of $258.6 billion from digital advertising, marking a significant 14.9% increase compared to last year. Digital video emerged as the fastest-growing segment, accounting for 24% of total ad revenue. Search advertising remains dominant despite the growth of video and social media, sustaining a 39.8% market share. Social media ad revenues saw a notable rebound with a 36.7% increase, while retail media networks grew by 23% due to the strategic use of first-party data amid evolving privacy regulations.
This record growth reflects the industry's ability to adapt to evolving technologies, regulatory changes and shifting consumer behaviors.
Despite the rapid growth of video, search advertising remains the largest segment, reaching $102.9 billion with a 15.9% YoY growth.
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