Jonathan Barnard, the head of forecasting at Zenith has said that growth of internet ad spend is going to slow down in the next couple of years. Further, he added that the year 2021 will become the first year which will witness a single-digit internet ad spend growth since 2001. And internet advertising spending will reach 52% of global ad spend by 2021.
Due to the shrinking of internet ads spends, the global ad spend has been declining since 2018. The competition among different online ad types and the maturation of the market are the two main reasons for the slow growth of internet advertising. According to Zenith, the growth forecast for 2019 will be 4.6% which reflects a decline from 6.4% growth rate of 2018.
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In addition to this, the report highlights that small, as well as local businesses, use online advertisement for most of the time in comparison to large businesses. One of the reasons for the decline in Internet ad spend is that paid search percentage which accounted for 37% of internet ad spend in 2018 is likely to witness a drop of 7% by 2021. It is simply because of the increasing popularity of voice search and due to the decline in the paid online classified advertisement.
