Our colleagues at IAB in the US have just released their detailed report on digital advertising revenue for 2022 with data and commentary on the $209.7 billion market. US market growth compared to 2021 was slightly stronger than Australia, 10.8% vs 9.1%, however the revenue trend within the year was consistent with strong growth in the first half of the calendar year and a slowdown for July to December.
Below are a few key comparison points as interesting data points. In future weeks further analysis and related nickable slides will be available for download. The full US revenue report can be downloaded here and all previous Australia reports are available for IAB Australia members here.
- Search – US search revenue increased 7.8% and represented 40.2% of the digi ad market compared a 8.5% increase and 43.5% share of the market.
- Video – US video revenue increased 19.3% compared to 12% in the Australian market. However video represented 23.3% of the total digi ad market compared to 22.5% in the US
- Audio – Digital audio saw a 20.9% increase year on year in the US and represented 5% of the total digital display market, our first Australian results in 2022 saw digital audio represent 4.0% of the digital display market.
- Retail Media – US retail media network revenue was estimated for the first time in the IAB US report with a total of $37.5 billion in 2022, with two of the largest retail media ad networks making up 45% of the market (based on industry estimates) and the longtail making up the remainder.
- Classified Listings – Australia has always had an incredibly strong classified market representing 17% of the digital ad market in 2022, classified listing revenue is below 4% of the US market (not broken out separately and contained within “other” in the US report).
- Market Concentration – for the first time since 2016 the share of revenue in the US from the top ten players reduced, with the top ten companies representing 76.8% of the market versus 78.6% in 2021.
The March quarter IAB Australia Online Advertising Expenditure Report will be released in late May.