U.S. advertising market revenues climbed four percent in January compared to the same period the year prior, according to a recent report released by the Standard Media Index, the industry standard for ad spend data.
The biggest winner for ad spends was digital media, which surged 16 percent year-over-year, according to SMI data, and now accounts for 27 percent of all ad spending.
Inside the digital media market the numbers were even more promising: ad revenues for Internet radio increased 29 percent over the year, investment in video sites was up 39% and social media ad spends were up 56 percent.
Broadcast TV ad revenues also grew by nine 9 percent. The SMI report cites the American Football Conference Championship Game between the New England Patriots and Denver Broncos — which received more than 53 million viewers, the second largest viewership for that event in nearly 40 years — as partially responsible for this ad growth.
The top growth categories for the year, according to the SMI, were prescription pharmaceuticals (35 percent), consumer electronics (30 percent) and beauty/grooming (15 percent).
Traditional radio ad volume, however, continued to decline, falling 16 percent in January from the year prior, according to SMI data. Cable TV advertising was also down, revealing a three percent decline for the month. And while TV ad revenues grew, the medium’s total market share reveals a two percent drop from the year prior, at 59 percent, compared to 61 percent in January 2015.
The SMI report can be found here.
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