The forecast: Following mixed effects of the pandemic in 2020, the US retail, consumer packaged goods (CPG), and entertainment industries are rebounding in 2021. By the end of this calendar year, we expect that each of these industries will grow their digital ad spending by over 31%.
How does this compare? Although entertainment will see the highest growth in digital ad spending of any US industry, it will only account for about 6% of 2021’s digital ad dollars. For context, retail will spend the most of any industry: 1 in 4 digital ad dollars will be spent on retail. Second will be CPG, holding 16.0% of the pie, and behind that will be financial services at close to 13%.
Looking ahead: We predict entertainment, retail, and CPG will continue to see higher digital ad spending growth than other US industries in 2022, though growth will be in the 10% to 20% range rather than 30% to 40%. Insider Intelligence subscribers can read more about this and other predictions in our Digital Ad Spending forecast.