Executive Summary

Digital ad spending in the US financial services industry will increase 9.7% this year to $19.62 billion. It will be the second-largest spender on digital advertising, behind only retail. Advertisers in the industry continue to heavily rely on mobile, while display and search ad spending have also increased, as the pandemic places an emphasis on performance and brand marketing.

What’s driving overall financial services ad spending growth?

Banks and credit card issuers have consistently increased their ad spending annually, and that trend will continue this year despite the pandemic. With economic uncertainty hastening digital banking adoption and placing greater importance on personal finance among consumers, advertisers want to capitalize on that interest.

How much financial services ad spending is going to mobile?

Mobile ad spending will grow 13.0% to $13.91 billion in 2020, accounting for 70.9% of all digital ad spending in financial services.

Which ad format is growing the fastest?

Spend on display advertising will grow 10.8% this year, reaching $9.94 billion. However, search will also grow 9.1% to $9.01 billion.

What is financial services’ share of total US digital ad spending?

We anticipate that financial services will make up 14.6% of total digital ad spending in 2020 and fall slightly to 14.4% in 2021.

WHAT’S IN THIS REPORT? This report details our annual forecast of US financial services digital ad spending. It includes a comprehensive overview of total digital ad spending, as well as estimates by channel, device and format and the pandemic’s impact on these figures.

KEY STAT: Digital ad spending in the US financial services industry will grow 9.7% this year to $19.62 billion.