Digital Media Spend To Top £80 Billion In 2014
According to recent estimates by eMarketer, worldwide digital media spend is set to reach £82.8 billion in 2014.
So, what does that say about the increasing significance of digital and its position within the wider marketing mix in 2014 and beyond? The answer appears to be ... here, there and everywhere. You'll struggle to find a marketing plan without a significant chunk that is solely dedicated to digital.
Increasing Digital Trend
The research suggests that digital media spend has increased percentage share by 5% since 2012 and that this trend is set to continue. With digital media spend becoming more and more significant in the marketing mix, eMarketer estimate that it will be represent over 30% of the total media spend by 2018. Furthermore, forecasters predict that digital media spend will break the £120 billion mark within those four years, representing a 6% increase in total media spend. In short, marketing managers are finally beginning to harness the power of digital and distribute the media spend accordingly.
UK Leads the Way
When it comes to digital media spend per country, the US leads the way while the UK has the highest share of total media spending attributed to digital, with 48% expected in 2014. This shows that the UK has been the quickest to adopt digital, especially when you compare it with 40% second-place Denmark, 38% third-place Australia, and 30% in the US.
In a nutshell, digital media spend is increasing - rapidly. Despite several years of peripheral existence, digital is set to account for over a quarter of total media spend in 2014.
Further insights can be found on the eMarketer website.
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