Estimates from eMarketer calculate B2B companies spent $4.07 billion on online advertising in 2017. In 2018, the spending is expected to increase 13 percent to 4.6 billion. Across the board, companies are pouring more money into technologies that allow them to place advertisements where their customers are.
Google and Facebook have long held a dominant share in the online advertising market. The two companies have some of the largest user bases in the world. Google now processes over 2 trillion searches per year and Facebook passed 2 billion monthly active users earlier in 2017, according to Statista.
From the formation of stricter guidelines to a growing concern over fraudulent practices, online advertising went through a year-long adjustment period. Alongside record-breaking growth, the platform sought to settle into a sustainable format which delivers on promises to advertisers and customers alike.
Facebook and Google provide high ROI and easy-to-manage online advertising options for thousands of businesses but have put the pressure on advertising agencies of all sizes to innovate.
The online advertising market continues to undergo radical changes as it finds its role within e-commerce and the Internet. Anti-trust legislation, market duopoly’s and the role of organic searches have all been under debate within the last year.
Today, ESPN continued to restructure its organization, laying off about 100 on-air personalities and writers, a huge chunk in personnel salary. Its problem is rooted in a deep investment in TV cable deals that don’t expire any time soon, even though sports fans are cutting the cable cord and finding other ways to watch live events.
