Digital Media Spending Growing at a Fast Pace

Based on an online survey of 1500 Business to Business (B2B) and Business to Customers (B2C) in the United States, across 36 spending categories, research firm Outsell has released its Annual Advertising and Marketing Study. The report is a brief up of the traditional and digital media spending trends for the year 2016.

The study observes that digital marketing continues to grow while the traditional media channels are lagging behind. Rough estimates on digital spending stand around a figure of $228 million, which is about 49% of the total marketing and advertising spending in the US.

TV, websites and email were the top three marketing channels according to the survey data representing $170 billion of more than $470 billion that is to be spent on Marketing and Advertising in 2016.

Mobile phones registered highest percentage year-over-year growth at 38 percent, representing $23 billion in annual spending.

Traditional media categories that witnessed biggest declines include magazines, directories, print newspapers, and direct emails.

Corporate websites were the highest- spending category at $76 billion and continue to be the most preferred tool used by respondents for marketing. They also claim 33 percent of the marketer’s budget.

Videos and Social media saw encouraging growth patterns too; with video coming in at $7.5 billion and Social media at $33 billion in the forecast. Paid search marketing and advertising continue to grow at a healthy rate of 13.4%