2015 is shaping up to be a record breaking year when it comes to total ad sped. According to a new report by the media-agency, Carat, the amount companies are investing in marketing will go up by $540 Billion in 2015, which is a 4.6% increase.
CEO of Carat, Jerry Buhlmann, said, “Carat’s latest advertising forecast gives us increased optimism for the outlook for global advertising spending. With harder times behind us, negative growth markets are pleasingly now a minority, and collectively we can look ahead to 2016 with positive growth predicted for all key markets”
They also expect the growth to continue at a rate of 5% into 2016.
This is certainly good news for all marketers who will be looking to get their piece of this massive pie. For digital marketers, however, the news is looking especially good. In fact, digital ad spend is growing far faster than any other vertical.
In 2015, digital ad spend is expected to go up by 15.7%. The next closest sector is the 4.8% growth in outdoor advertising. The predicted growth in 2016 is 13.8% for digital (5.2 for outdoor). The bottom line here is that for the savvy digital marketer, this year and next present some outstanding opportunities.
Of course, it isn’t all good news in the overall marketing industry. Newspapers, for example, will see an a -3.8% growth rate in 2015, continuing their downward trend. Of course, that is not surprising given how poorly the print industry is doing. Likewise, magazines are going down by 1.7%. Other than that, however, every other marketing vertical will see growth this year, and predicted growth next year.
While the growth in digital advertising is a good thing, there is still a lot of room for advancement. The digital marketing budget in 2015 accounts for 23.9% of total ad spend. Television, on the other hand, commands 42.2%. Newspapers still get 12.8%. too.
The biggest question here is what will you be doing to capture your piece of the digital marketing money? There is a lot to go around, so make sure you are planning how you will capture your share.
