🎯 A Cool Trillion

FEATURE

Global ad spend to pass $1 Trillion

A report from WARC predicts that advertising spend will exceed the trillion-dollar mark in 2024.

More than 50% of ads will be bought from just 5 companies; Alphabet, Meta, Amazon, Alibaba, and ByteDance.

No surprise to find that social media spending is expected to grow the fastest - driven by social commerce and short-form video. While Search advertising is still the largest category, we wait to see how much disruption (positive or negative) is caused by Google’s redesigned search experience.

Emerging channels, Retail Media and Connected TV are expected to continue to expand and drive significant growth for the advertising category.

Source: Marketing Dive, Marketing Brew, WARC (free full report)

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TODAY’S HEADLINES

Google has removed the recommendation that content should be “written by people”. Google’s implied acceptance of AI-written content is now reflected in its ‘Helpful Content’ guide. (Barry Schwartz on X)

TikTok is subsidizing up to 50% discounts on its new online marketplace, TikTok Shop. The company hopes to sell $20 billion of products this year, and the holiday season will be a big part of that. (The Verge)

Meta is preparing a new feature called ‘Basic Ads’ as a potential solution in Europe. Basic Ads don’t rely on users’ past Facebook or Instagram activity.  Matt Navarra on X)

X has signed up to receive programmatic ads from Google. Advertisers can use Google Ad Manager to buy ad inventory on X’s homepage. While Google will need to hold X accountable to its publisher standards. (Ad Exchanger)

Walmart Connect has launched Sponsored Videos for search. The new ad units are designed to promote “visual storytelling” for CPG brands. (Media Post).

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