After an 8.8% drop in 2022, Warc Media’s Platform Insights report pointed to the platform’s recovery
YouTube’s global advertising revenue is expected to reach the $30.4 billion mark in 2023, representing a 4% increase, according to Warc Media’s Platform Insights report.
Another data presented by the survey was that, in 2024, this percentage should rise to 10.3%, reaching the mark of US$ 33.5 billion by the end of the year.
The figures announced by Warc show a recovery of the platform, which recorded an 8.8% drop in ad revenue in the fourth quarter of 2022, compared to the previous year.
“It’s been a tough time for YouTube, which is increasingly struggling on two fronts, against short-form video platforms like TikTok, as well as streamers of long-form content. digital, YouTube can expect improved revenue growth,” said Alex Brownsell, head of content at Warc.
Retail remains YouTube’s most important category for ad spend, and the industry is expected to spend $4.1 billion on ads on the platform this year, up 4.6% from 2022, according to the survey data.
A Warc survey of marketers in Asia Pacific found that YouTube is the most popular digital display platform and nearly half of brands (49%) in the region display their display ads on the network.
The Alphabet-owned video platform, which reaches an estimated 2.07 billion internet users, is actively looking for ways to establish deeper connections with viewers, creators and brands through multi-format video strategies.
One of the strategies that Youtube has adopted is prioritizing Shorts and Connected TV engagement, in addition to adding 30-second ads that cannot be skipped by the viewer, with the aim of helping marketers engage the audience on screens and reach performance goals and brand building.
