Ad revenue on streaming video jumped 50.8% to 39.5 billion in 2021 according to a new report from the IAB.
Streaming media was a big contributor to an overall increase of 35% to $189 billion for the year.
“We fully expected 2021 to be an exceptional year for digital ad growth, but even we were surprised at the degree of acceleration. Not only was every single digital channel up, but some were up more than 50% year on year,” said Libby Morgan, senior VP, chief strategy officer at the IAB. “This year’s increase is three times what it was last year.”
Digital audio was up 57.9% to $4.9 billion.
Social media advertising was up 39.3% to $57.7 billion.
Search engine ad revenue was slower, posting a 32.8% gain.
Overall, digital advertising revenues were up 35% to $189 billion in 2021, the biggest increase since 2006.
“What’s underneath these numbers is a very clear narrative. We are witnessing the total and complete democratization of access afforded by ad-supported digital channels,” said IAB CEO David Cohen. “Increased consumer usage coupled with extraordinary growth of small and mid-sized businesses during the pandemic has fueled growth across all digital — but especially digital audio and video. We expect this digital migration to drive the continued growth of a healthy and competitive digital marketplace driven by innovation and entrepreneurship.” ■
