Digital advertising is growing. Even in 2020, where every business has been affected by COVID-19, there has been an increase from last year. This is impressive. When companies are forced to cut budgets, advertising budgets are often among the first things to get slashed. But with the few dollars companies have left, they realized something. So many people are stuck at home all day looking at their screen. They have a captive audience. Digital advertising makes sense.
The biggest jump this year in terms of advertising spending is with connected TV, that is, channels that require you to have an internet connection. But this shouldn't be surprising. So many new TVs are "smart", and have internet capability built right in. Also, tons of companies who offer content through a TV app gave customers extended free trials during COVID-19, so people couldn't help but check it out.
This means traditional advertising such as print and traditional TV is declining. So, when thinking about where you want to advertise, look at where people are spending their time. Those advertising dollars are precious, make them count!
IAB has projected a 24% decline in traditional TV advertising spend for 2020 vs. 2019. Yet they see a big increase coming for connected TV advertising, which they estimate will growth at 19% year over year.