Market Size Of The Digital Advertising Industry Expected To Reach $20.7 Billion In 2022
February 22, 2022 at 08:55 AM EST
Palm Beach, FL – February 22, 2022 – FinancialNewsMedia.com News Commentary – Businesses in this industry create advertising campaigns and place the advertisements across digital media outlets. Through in-house capabilities or subcontracting, the agencies provide advice, creative services, account management, production of advertising material, media planning and buying. According to a report from IBISWorld said that: “The Digital Advertising Agencies industry will continue to grow over the (next) five years as more effective advertising tools are developed to measure consumer demographics. In particular, many digital advertising agencies will attempt to implement tools that measure how an advertising campaign drives customer purchasing behavior across numerous digital platforms. For example, the industry has contended with limited tools available to examine consumer demographics for individuals who may have switched from one device to another, potentially causing them to view an advertisement twice. The industry will benefit from more clients allocating their advertising budgets to advertisements that integrate with numerous technologies, including smartphones.” Active companies in the market this week include Troika Media Group, Inc. (NASDAQ: TRKA), QuinStreet, Inc. (NASDAQ: QNST), S4Capital (LSE: SFOR), WPP (NYSE: WPP), Advantage Solutions Inc. (NASDAQ: ADV).
The IBIS report added the following: “The market size, measured by revenue, of the Digital Advertising Agencies industry is $20.7 billion in 2022 and is expected to increase 4.6% in 2022. The market size of the Digital Advertising Agencies industry in the US increased faster than the economy overall. The primary negative factor affecting this industry is high competition, while the primary positive factor is a growing life cycle stage. Internet traffic volumes represent the total data sent over the internet globally per month. As the amount of internet traffic increases due to more consumers accessing websites from their mobile devices, tablets or computers, many businesses will expand their online presence. As a result, demand for digital advertising services will rise as more businesses use advertising to drive website traffic volumes. Internet traffic volume is expected to increase substantially in 2021, representing a potential opportunity for the industry.”
Troika Media Group, Inc. (NASDAQ: TRKA) BREAKING NEWS: Troika’s Triple Crown – Troika Media Group, Inc. (“TMG” or “Company”), a brand consultancy and marketing innovations company that provides integrated branding and marketing solutions for global brands today announced that last week’s Super Bowl LVI was a milestone moment for the company, as Troika has been creative partners with the Los Angeles Rams, SoFi, and the Los Angeles Super Bowl Host Committee on a slate of branding, marketing and fan experience initiatives, including engineering the Rams game day experience on the massive 360-degree, two-sided Infinity screen.
The just-concluded Super Bowl LVI, to quote the Los Angeles Business Journal, “provided a ‘wow-factor’ for first time visitors gazing up at what was hanging from the canopy roof of the stadium.” Last week’s Fast Company feature stated, ‘The result is a strategically paced medley of player videos, fan and celebrity cameos, stat and score boxes, frenzied animation, and sponsorship integration.”
Troika’s continues to work with the LA Rams and SoFi stadium for the upcoming 2022-23 season, along with other world-class sports and entertainment brands to be announced throughout the year. CONTINUED… For more information about Troika Media Group, visit https://www.troikamedia.com/; https://troika.io/
Other recent developments in the markets include:
QuinStreet, Inc. (NASDAQ: QNST), a leader in performance marketplaces and technologies for the financial services and home services industries, recently announced financial results for the fiscal second quarter ended December 31, 2021. For the fiscal second quarter, the Company reported revenue of $125.3 million. Revenue declined 7% year-over-year. GAAP net loss for the fiscal second quarter was $5.6 million, or ($0.10) per diluted share. Adjusted net income was $3.2 million, or $0.06 per diluted share. Adjusted EBITDA for the fiscal second quarter was $5.6 million. The Company generated $13.9 million in operating cash flow in the fiscal second quarter and closed the quarter with $115.0 million in cash and equivalents.
“Insurance client spending was further impacted in the December quarter by the widely reported effects of increased claim costs,” commented Doug Valenti, QuinStreet CEO. “Insurance spending bounced back strongly in January, but has been more volatile than projected as carriers adapt to a rapidly changing environment for claims and costs. We expect current insurance market volatility to last for approximately three to six more months, and then return to more normal market conditions and increased momentum thereafter. Momentum in non-insurance verticals continues to be strong. We are also seeing good progress with growth initiatives, including QRP. QRP revenue is now expected to exceed $1 million per month by June.”
S4Capital (LSE: SFOR), the tech-led, new age/new era digital advertising and marketing services company, recently announced a merger between Cashmere and Media.Monks, which significantly expands the capabilities of both its content practice in the USA and global cultural strategy.
Cashmere is the premier culture and creative marketing agency, founded in Los Angeles in 2003, by Ted Chung and Seung Chung. With over 150 team members, Cashmere specializes in creating authentic, culturally relevant content and campaigns for clients like Google, Instagram, Facebook, BMW, WarnerMedia, adidas, Netflix, Disney, Amazon and Apple. In August, Cashmere was appointed as the first ever “Culture Agency of Record” by Taco Bell.
WPP (NYSE: WPP) and Instacart, the leading online grocery platform in North America, recently announced a new partnership offering advertising solutions and measurement tools for CPG brands. The first of its kind partnership will give WPP and its clients early insight into Instacart Ads product offerings and access to new tools and features on the platform.
With the largest footprint across the CPG category globally, WPP recognized the importance of building advanced retail and commerce capabilities early on. The partnership with Instacart Ads, which offers a robust suite of advertising products, reflects WPP’s commitment to lead the market by delivering advanced, end-to-end commerce solutions that allow brands to thrive in online environments.
Advantage Solutions Inc. (NASDAQ: ADV) recently announced that the company will release its fourth quarter and full year 2021 results after the market closes on Tuesday, March 1, 2022, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day.
The conference call can be accessed live over the phone by dialing 1-877-407-4018 or for international callers, 1-201-689-8471. A replay will be available two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the live call and the replay is 13726120. The replay will be available until March 8, 2022.
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