Interactive Advertising Bureau has good news to share.
“US digital ad market has earned record revenue of $72 billion. That’s a hike of 20% more than last year… And the credit goes to Google and Facebook.”
The Google and Facebook duo in the digital advertisements sector is ready to give a tough competition to every other digital marketing establishment in the league. The only catch is, there is no one even near in their vicinity.
e-marketer analysis shows, Google will keep on dominating with 40% accountable dominance in the US digital market. The credit for this lead is their ease and access of ‘Google mobile search’ option. This will continue to benefit the search engine giant highly.
According to Monica Peart, analyst in eMarketer –
“It is highly expected in 2017 that Google mobile search has a tenacity to increase up to 16.1% more and it will bring revenue around $29 billion. More interestingly, if you see the growth percentage, very soon, Google will take a lion’s share of 77% of digital ad market. And to support Google, there is Facebook right by its side.”
Quite similarly, Facebook is also holding a strong ground with 72% of digital ad marketing and media relations. Together, the Google-Facebook duo is holding 92% of the market.
“Though the exact profit data and figure are still not available, as per speculation, it will be around $ LOT billion,” said a Digital Advertisement market analyst.
Wenda Harris Millard, Vice Chairman at an advertising and media consulting firm, MediaLink opines on this matter. There is a need for others to have space in the online advertisement sector; otherwise, the price quotation for advertisement will rise sky-high.
She also spoke on the only plausible strategy that can work to let other competitors at least enter the market. “Right now, anyone who is planning to make a stand here requires a very strong plan with exclusive content and other strategies, which are still not very mainstream.”
Ms Peart, eMarketer analyst, provides with a significant example of media relations and digital advertisement marketing. Facebook’s video sharing of both live and pre-recorded is drawing more attention for user engagement and increasing advertiser’s enthusiasm.
Another name that has a possibility to come up in the list is, Snapchat. They are bidding to have a growth of 158%, which means, the revenue will go up from $770 million to $800 million. Still, this will not make much of a difference.
“Compared to Google and Facebook, Snapchat has the probability of landing with 1.3% share in the digital advertising market.”
This makes it quite clear that not only in 2017 but also in the nearing years, the duopoly of Google and Facebook will rule digital marketing and advertisement sector.