Fulled by 44% increase, Global spending on digital marketing nears $100 billion

Fulled by 44% increase, Global spending on digital marketing nears $100 billion

Fulled by the double-digit growth in the US and UK last year which saw digital marketing spends reach $52bn, recent study compiled by accountancy firm Moore Stephens estimates that global digital marketing spends nears $100 billion.

The survey was conducted in partnership with ad and media consultancy WARC, incorporating results from 800 firms across North America, Asia-Pacific and Europe. Overall, brands in the US and UK allocated 23% of their budgets to digital marketing, up from 16% just a year ago, with 63% of US technology budgets now spent in-house, rising from a 44% share last year.

Speaking to Reuters, study author and partner Damian Ryan said: “Clearly marketers are seeking to build in-house strength and are set to spend more on martech to remain competitive. Our research finds that this budget is coming from media spend and will have a resounding impact on the value of media-centric agencies.”

Source: Reuters