10th Annual Ad Buyers Survey

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John Blackledge shares the results of Cowen’s 10th Annual Ad Buyers Survey with 54 senior US ad buyers responsible for over $31BN in U.S. advertising spend. This video highlights 2022 ad spend intentions, the pace of migration away from traditional channels towards digital advertising, and market share forecasts. Press play to watch the video.

Transcript

We recently published an Ahead of the Curve® Series Report based on a proprietary survey of 54 Senior US ad buyers representing over $31BN in US advertising spending. 

The ad buyers were bullish overall on ’22 ad spend intentions, up 7% y/y, the highest growth in the 10 years we have been conducting our annual survey. 

We forecast global digital advertising market to be about $519BN in ’22, up 18% y/y, driven by video and social channels. We forecast the US digital advertising market to be about $221BN, up 17% y/y. 

The digital advertising migration from traditional channels like TV and radio continues. The ad buyers expect Digital share to rise about 8% over the next two years. 

Digital video and social video advertising are expected to be the fastest growing channels within digital over the next 2 years. 

The leading expected share gainers within digital advertising over the next 2 years include YouTube, Amazon, and Tiktok with expected share losers were Google search, core Facebook, and Instagram. 

~60% of respondents expect the recent iOS 14.5 changes to impact measurement and targeting for 6 months or more, while 20% expect the changes to be permanent. Of the 40% expecting the changes to be more transitory, they were in the Tech & Telco, Healthcare, and Food & Beverage industries.

Given the iOS 14.5 changes, 30% of ad buyers expect slower performance marketing in ’22, while 13% expect growth to be similar to ’21 levels. Only 3% expect performance marketing budgets to decline in 2022.

Given the iOS 14.5 changes, 33% expect of the respondents expect to shift some performance marketing budgets to other Digital platforms, such as Google search, YouTube, Tiktok and Amazon. Non-beneficiaries were Instagram, SNAP, PINS, and the app stores.

For those advertisers starting a new branding campaign in the 13-34 demo, the leading platforms were YouTube, Tiktok and Instagram. For the 35+ demo, TV, core Facebook, and YouTube were the leading platforms. 

I’m John Blackledge, Cowen’s Internet Analyst.

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