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IAB: US digital ad market hits $258B in 2024

Social media and search ads drove U.S. digital ad revenue to $258.6B in 2024, with AI and retail media setting the pace for 2025.

byKerem Gülen
April 17, 2025
in Sales & Marketing, Industry

The U.S. digital advertising industry saw a 14.9% year-over-year revenue increase in 2024, reaching $258.6 billion, according to the “IAB Internet Advertising Revenue Report: Full Year 2024” conducted by PwC.

Key drivers of this growth included digital video, retail media, search, and social media advertising. Digital video revenue rose 19.2% to $62.1 billion, now making up 24% of total digital ad revenue. Search advertising revenue grew 15.9% to $102.9 billion, accounting for 39.8% of total digital ad revenue.

Other notable growth areas included social media, with a 36.7% increase to $88.7 billion, and retail media, which grew 23% to $53.7 billion. Podcast advertising also saw significant growth, rising 26.4% to $2.43 billion.

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Mid-tier media companies experienced the largest share growth, with their market share reaching 11% in 2024, a 3.1% increase from 2023. David Cohen, CEO of IAB, attributed this growth to mid-tier companies adopting new business models and leveraging AI and data-driven insights.

Looking ahead to 2025, the report highlights several key trends, including:

  • AI-driven advertising: AI is evolving from a tool for automation to a transformative force in digital advertising, driven by generative and agentic models.
  • Creator economy: Brands are shifting from one-off influencer deals to long-term partnerships, with creators expanding into new areas like podcasts and retail partnerships.
  • Privacy and regulation: The industry is moving toward privacy-first strategies, with brands adopting first-party data and contextual targeting.
  • Streaming and connected TV: Ad-supported tiers from major streaming services are expanding inventory, while live sports streaming is attracting ad dollars.
  • Business model reinvention: Brands are adopting multi-platform strategies and AI-driven automation to stay competitive.

The “IAB Internet Advertising Revenue Report” is compiled from data reported directly to PwC from companies selling internet advertising, as well as publicly available corporate data. The report has been conducted quarterly since its inception in 1996.


Featured image credit

Tags: Industry

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