Tech Giants Gain As Virus Reshapes Ad Spending STUART HIMMEL Staff Writer
Digital ads to account for over half of year’s U.S. advertising for first time.
including newspapers, local television
March, many companies slashed
and magazines.
their ad spending as businesses
For the first time, more than half of
Online ads can be cheaper than
the virus’s spread. Homebound
U.S. advertising spending is set to go
those placed on other media
consumers started doing more of
to digital platforms such as Google
platforms and they allow marketers to
their shopping online, causing small
and Facebook which is a reflection of
better target and measure the
and large companies to place more
marketers’ strategy shift as the
performance of their ads. These
emphasis on digital ads.
coronavirus pandemic pummeled the
advantages have become even more
advertising is dominated by three
industry this year.
important during the pandemic as
competitors – Facebook, Amazon
This milestone is just the latest proof
businesses cut ad budgets and
and Google which together account
of digital advertising’s meteoric rise, a
consumers spend more of their time
for nearly two-thirds of ad dollars
development that has concentrated
and dollars on line.
spent on U.S. digital advertising this
around the world were shut to restrict
year. The biggest beneficiaries are
ad spending with several tech giants at the expense of other platforms,
W W W. M B E F O RYOU. C O M
Digital
When the pandemic hit the U.S. in
the Big Three. They have done a
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