• by Wayne Friedman , April 25, 2024

Digital video is expected to surpass linear TV advertising this year -- growing 16% versus a year ago to $62.9 billion, according to a report by the Interactive Advertising Bureau.

The data estimates, from Advertising Perceptions and Guideline, show digital video ad spend -- social media, connected TV, websites, and online video -- will have a 52% share with linear TV at 48%.

Separate analysis from other third parties estimate linear TV to be slightly down by single-digit percentages this year to anywhere from $58 billion to $65 billion.  

Since 2020, there has been a share shift of some 20 percentage points to digital video from linear TV, the IAB says. In 2020, it says digital video had a 29% share with linear TV at 71% share.

According to the study, major TV advertising categories continuing to grow their digital video spend this year versus a year ago include consumer packaged goods (20% higher to $12.6 billion); retail (30% more to $7.4 billion); technology (6% to $6.5 billion); entertainment/media (7% to $5.9 billion); and pharmaceuticals, (2% to $5.4 billion).

Looking at individual digital video platforms, the study estimates that CTV media spend will rise 12% to $22.7 billion, while social media video will be up 20% to $23.4 billion and online video will be 18% higher to $16.8 billion.