(MENAFN- PR Newswire)
Ad spending on audio/video streaming services to see strong gains
CLEVELAND, Aug. 4, 2022 /PRNewswire/ -- US advertising service revenues are forecast to advance 8.0% yearly in nominal dollars through 2026, according to Advertising Services: United States , a report recently released by Freedonia Focus Reports. Rising levels of consumer spending are expected to support expansion of corporate revenues and the creation of new firms and brands, and by extension, advertising budgets, fueling growth. As more consumers turn to streaming audio and video services, spending on advertising on those platforms is expected to see rapid growth. The presence of a US presidential election year (2024) is also expected to boost election advertising spending. However, revenue growth will slow down over the forecast period as the streaming market matures and competition from management consultancies and tech firms siphon away advertising revenue.
Advertising revenues are projected to expand 16% in 2022. Gains reflect a pickup in consumer spending and corporate revenues as the economy continues to recover. Advertisers will also raise prices to cover rising wage and other expenses due to a tight labor market and inflation.
These and other key insights are featured in Advertising Services: United States . This report forecasts to 2022 and 2026 US advertising services revenues in nominal US dollars. Total demand is segmented by establishment type in terms of:
- advertising agencies
- media representatives
- public relations agencies
- media buying agencies
- direct mail advertisers
- display advertisers
- ad material distributors
- other establishments such as product demonstration, display lettering, and welcoming services
To illustrate historical trends, total revenues, the various segments, and advertising spending by media type are provided in annual series from 2011 to 2021.
Excluded from the scope of this report are advertising revenues from establishments that do not provide advertising services as their primary activity, as reported to the US Census Bureau. For example, advertising revenues earned by television networks, newspaper publishers, social media websites, and internet search engine providers are excluded. Search engine optimization (SEO) services are also excluded.
This report includes the results of a proprietary national online consumer survey of US adults (age 18+). This Freedonia Focus Reports National Survey has a sample size of approximately 2,000, screened for response quality, and representative of the US population on the demographic measures of age, gender, geographic region, race/ethnicity, household income, and the presence/absence of children in the household.
More information about the report is available at:
About Freedonia Focus Reports Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Services & Industries reports can be purchased at Freedonia Focus Reports or MarketResearch.com .
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
Press Contact: Corinne Gangloff+1 440.842.2400[email protected]
SOURCE The Freedonia Group
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