Internet Advertising Market in 2024

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Every person who works in the media sphere should follow the latest news. Today we will talk about the situation on the Internet advertising market in 2024.



Some statistics for the past year:

ARIR President Boris Omelnitsky drew attention to the fact that in the the benefits of using our teacher database first quarter of this year, the market dynamics significantly exceeded the forecasts of the end of last year, which expected growth of about 20%, and reached 32% in traditional segments. In his opinion, such growth is due to increased competition in the Internet advertising market, the emergence of new players, associations and promotion tools. The active implementation of new technologies by advertising platforms makes digital advertising more accessible to small and medium businesses, attracts additional investment and contributes to rapid development.

Vice President of ARIR and Director of Analytics of the Commercial Department of VK Alexey Belyaev also noted that the increase in the dynamics of the interactive advertising market in the first quarter of this year is due to the growth in demand for all traditional segments. He added that the share of traditional interactive advertising formats remains at 60% of the total market volume.

According to the results of 2023, the interactive advertising market in Russia reached 427.6 billion rubles, an increase of 32%. Earlier it was reported that by the end of 2024, the influencer marketing market would grow by 33.5% to 42.5 billion rubles. Part of this profit will be redistributed in favor of the Telegram messenger and the VKontakte social network at the expense of the YouTube video hosting service.





What does the future hold for the online advertising market? Forecast for the second half of 2024:

According to Statista forecasts, digital advertising costs in Russia in 2024 will amount to 519 billion rubles. This is 17% more than forecasts for 2023 (443.5 billion rubles with an average ruble exchange rate of 84.65 per 1 US dollar) and 78% more than forecasts for 2022 (291.6 billion rubles with an average ruble exchange rate of 67.46 per 1 US dollar).

It can be assumed that the digital advertising market has already fully recovered from the shocks and is confidently moving towards new heights in 2024. However, the question arises: to what extent do these forecasts correspond to reality?

Here, the ARIR report for 2022 comes to the rescue (the latest report has not yet been published). The report indicates a figure of 323.7 billion rubles for traditional channels, which is only 11% different from Statista data. Both sources use different methodologies, but in both cases, the largest expenses are incurred by search, video and banner advertising.

Thus, the figures are somewhere close to the ARIR data.





Research of the Internet advertising market size for 2024 from OMD OM Group:

OMD OM Group has published the results of an industry study on changes in online advertising volumes in 2024. The survey was conducted among representatives of various companies and organizations working in the field of Internet marketing.

According to the survey results, half of the respondents plan to increase the volume of online advertising next year. Most respondents expect investment growth within 10%, but there are those who predict an increase of more than two times.

Among the most promising areas for the development of online advertising, the following were noted: advertising with bloggers, in e-commerce, performance marketing and OLV InStream.

The online marketing market experienced a real epic in February, when events occurred that made it sway. However, surprisingly, the fall was not as catastrophic as everyone expected - only 2% according to AKAR. At the same time, active advertisers redirected most of their budgets to Yandex and VK, which led to some inflation in the market.

One of the key growth factors was the development of retail media, which began to actively compete with traditional tools, offering new advertising formats, especially visual and video. At the same time, the influencer marketing segment, although slightly affected by the crisis year with a 5% decline compared to the previous year, plans to return to growth in 2024 with a projected increase of 23% to 35%.

Local Programmatic also showed impressive growth, growing by 39% and displacing Google Marketing Platform in its territory. Overall, the classic digital advertising market is expected to grow by 19-26% year-on-year in 2023-2024, with its share increasing by 0.5 percentage points annually.