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The internet is projected to strengthen its position as the most invested-in advertising medium worldwide in 2022. Nearly ** percent of all global ad investments were expected to be devoted to digital promotion that year, while television was forecast to receive around ** percent of total advertising expenditures.

Traditional media struggles to maintain its relevance

While the advertising industry has focused its efforts on traditional media formats for decades, if not centuries, the recent changes in consumer behavior have fundamentally altered the business. Audiences are spending more time online than ever, which has led television to forfeit its spot as the top advertising medium in the world. Other traditional channels such as radio and print are also struggling to remain relevant in today’s digitalized world. Given the rapidly rising global online penetration rates, this battle for relevance and advertising funds is unlikely to be won any time soon.

Digital advertising is thriving

Digital advertising channels and technologies claim larger slices of the global advertising pie each year. In 2021, digital ad spend amounted to an estimated *** billion U.S. dollars worldwide, and according to the latest data, this figure will have surpassed *** billion by 2024. One vital driver of digital ad spend growth is the mobile revolution. Smartphone adoption and mobile usage have rapidly accelerated in recent years, and seeing that consumers in many parts of the world spend more time browsing the web on their smartphones than on desktop computers, marketers are quick to follow suit. Mobile internet ad spend is expected to grow from *** billion in 2021 to nearly *** billion by 2024, showing how dynamic and adaptive today’s advertising landscape is.