Paid search advertising revenues reached a new high in 2023 – though annual growth continues to slow, according to a new report. In total, search accounted for $88.8 billion of a record $225 billion in U.S. digital advertising revenues, according to the IAB Internet Advertising Revenue Report: Full Year 2023, conducted by PwC. That figure represents a $4.4 billion increase over 2022. Why we care. Paid search becomes more expensive and challenging every year, with less transparency. But advertisers continue to embrace paid search for one simple reason: it drives results for brands and businesses. Paid search is still king. Search continues to own the largest market share of advertising – 39.5%, but that is down from 40.2% in 2022, 41.4% in 2021 and 42.2% in 2020.
The report. You can read the report here (registration required). via Search Engine Land https://ift.tt/Uu7V6aG
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