The telecom industry saw an unexpected spending surge in 2023 that has carried over into 2024. Two years ago, the category slumped to a 1.8% growth rate amid a turbulent stretch for the major US telecom companies. But a turnaround began last year, and this year we expect the reinvigorated competition between the likes of Verizon, AT&T, and T-Mobile to push the industry over $20 billion in digital ad spending for the first time.
The “other” category will take second place in growth this year, thanks to political ad spending. “Other” comprises a smorgasbord of smaller ad spenders such as real estate, nonprofits, professional services, energy, manufacturing, industrials, politics, and education. Once every four years, the political portion of that equation surges. US digital political ad spending will spike by 362.6% this year, propelling “other” to unusual outcomes in many of our industry ad spending rankings.
Read the full report, US Ad Spending by Industry 2024.