AI驱动与商业化融合：数字广告进入新周期（英文）

InternetAdvertising

RevenueReportiab.compwc.com/e&mIntroduction042024vs.2023internetadvertising

revenues052024

highlights06State

of

the

Industry:2025and

beyondFull-yeartrends08Quarterlygrowth13Secondhalfvs.first

half

revenues14Revenue

concentration152024results,

byformat16Growthbyadvertisingformat18Podcast19Programmatic20Social

media21Commercemedia22Advertising

revenues

and

growth,by

media

(digital

and

non-digital

media)Appendix23Aboutthe

IAB

InternetAdvertising

Revenue

Report25Survey

definitions

26Definitions

of

advertising

media

from

PwC’s

Entertainment

and

Media

Outlook28Survey

scope

and

methodology

29Historical

data

findings

30About

IAB

32PwC’s

technology,media

and

telecommunications

practice

34PwC

Research35Contacts

36TableofcontentsSummary21SummaryIntroductionThe

digital

advertising

industry

reached

new

heights

in2024,

with

ad

revenueclimbing

to$259billion,a

15%year-over-year

increase

from2023.This

recordgrowthreflectstheindustry’sabilitytoadapttoevolvingtechnologies,regulatorychanges,andshiftingconsumerbehaviors.At

its

core,digital

advertising

remains

a

powerful

engine

of

innovation,fuelingeconomicperformance,jobcreation,andenhancedconsumerexperiences,

whiledeliveringdurableimpactforbrands,agencies,AdTechproviders

and

publishers.Yet,amidglobaluncertaintyandadynamicmacroeconomicenvironment,theindustrymustremainagileandfocused

as

externalfactors

couldinfluencethepaceandshape

offuture

growth.One

of

the

most

transformative

forces

is

the

rise

of

next-generation

AI.While

AIhas

long

supported

advertising,generative

and

agentic

AI

are

now

enablingplatformsandbrandstomovefromautomationtoadaptivedecision-making,creative

generation,and

commerce

integration.

However,despite

AI

becomingacompetitivedifferentiator,datasecurity,interoperability,andintegrationchallenges

remain.Privacyregulationsandplatformdatapolicies

are

reshaping

how

advertisersengageaudiences.Brandsareacceleratingadoptionoffirst-partydatastrategies,contextualtargeting,andprivacy-safesolutionstonavigatesignal

loss.Consumersdemandmorecontrolovertheirdata

butstill

expectpersonalized

ads

when

the

value

exchange

is

clear–putting

pressure

oncompanies

to

strike

the

right

balance.Inparallel,thestreaminglandscapecontinuestoshift,withad-supportedstreamingbecomingdominantandlivesportsdriving

premiumad

investments.

Fragmentationandaudienceshiftsrequireadvancedmeasurementandprogrammaticstrategies,whileskinnybundlesexpandad-supportedinventory

in

response

to

streaming

fatigue.Meanwhile,thecreatoreconomyhasmaturedwithmost

brands

integratingcreatormarketingintotheirmediamix.Asgrowth

stabilizes,

brand

success

inthisspacenowhingesonmulti-platformengagement,

long-term

partnerships,

andcontentmonetization.All

of

this

is

driving

a

broader

reinvention

of

how

brands

operate.

Marketers

areactively

weaving

together

AI,commerce,data

and

content

to

create

seamless,transactional

consumer

experiences.This

integration

serves

as

a

key

activator,

poweringthesurgeofcommercemedia,includingretail

media

networks(RMNs).

Meanwhile,

DTC

strategies,decentralized

platforms,and

commerce-driven

ecosystems

are

coming

together

to

expand

and

open

new

revenueopportunitiesbeyondtraditionalchannels.Powered

by

AI

advancements,privacy-first

advertising,streaming

innovation,

creator-drivenengagement,andreimaginedbusinessmodels,digitaladvertising

is

entering

a

new

era

of

transformation.

Companies

that

canleverage

these

strategies

will

be

best

positioned

to

lead

and

thrive

in

thisevolvinglandscape.PwC

|

IAB

InternetAdvertising

Revenue

Report4After

a

growth

slowdown

in2023driven

by

economic

uncertainty

and

elevatedperformance

during

the

COVID

years,internet

advertising

revenue

returned

torobust

growth

with

a

14.9%year-over-year(YoY)increase,reaching

a

record$258.6billion

in2024.This

is

fueled

in

part

by

the

presidential

election

cycleand

an

Olympics

year,both

of

which

historically

drive

higher

ad

spend.Despitemacroeconomicchallengessuchasinflationrising,

interest

rates,and

sector

job

cuts,the

U.S.digital

ad

market

remained

strong,

underscoringitsadaptabilityandlong-termstabilityinanevolving

economic

landscape.Fiveyear(2020-2024)internetadvertisingrevenuetrend($billions)2024vs.2023internet

advertisingrevenuesInternetadvertisingrevenueshaveseena

returntostronggrowth

in

FY2414.9%YoY

$258.67.3%YoY$225.010.8%YoY35.4%2020

2021

202220232024Source:IAB/PwC

InternetAd

Revenue

Report,

FY2024YoY

$189.3$209.7$139.85Digital

ad

formats

andprogrammatic

buying•Digital

video

is

the

fastest-growing

format,with

revenues

increasing

19.2%YoY

to$62.1billion,now

accountingfor24.0%of

total

ad

revenue.Search

and

Display

alsoshow

an

impressive

YoY

growth

this

year,three

times

the

YoYgrowthseen

in

FY23.•

Searchadvertisingremainstheindustry,s

largestsegment,reaching$102.9billion,growing

15.9%YoY,and

maintaining

its

dominant39.8%

market

share.•Display

advertising

rebounded

with

a

12.4%YoYincrease,reaching$74.3billion,compared

to

its4.0%growth

in2023.•Podcast

advertising

revenues

show

a

strong

YoY

growthof26.4%,a

significant

acceleration

from5.5%last

year.

Thisgrowthwasfueledbyshiftingconsumer

mediahabits,withcord-cuttingdrivinggreaterengagementwithon-demandaudio,andpodcastsemerging

as

a

key

platformforpoliticaladvertisersseekingtoconnectwithvoters

ahead

of

the

election.•In2024,programmatic

advertising

revenue

reached$134.8billion,marking

an

18.0%

increase

from2023.•

Thesetrendsreinforcethecontinuedrelianceonautomated

and

streamlined

ad

buying

as

well

as

thecontinuedexpansionofdynamic,immersiveadformats

asbrandsseekhighengagement

environmentstoconnectwithconsumers.Digitaladvertisingrevenueand

growth

rate•Internet

advertising

revenues

increased

by

14.9%YoYbetween2023and2024,to

reach

their

highest

recordedlevel

of$258.6

billion.•

2024saw

sustained

growth

in

revenue

across

eachquarter.Q1saw

impressive

growth

of

15.7%

quarter-over-quarter

with2023,closely

matched

by

15.2%growth

in

Q2.Year-on-year

growth

continued

into

thesecond

half

of

the

year,albeit

at

a

slightly

slower

rate,with

14.7%growth

in2023and

14.3%

in

Q4whererevenues

increased

to$73.7billion

from$64.5

billion.•

The

second

half

of2024,s

contribution

to

overallrevenues

has

remained

consistent

with2023

(54%

inboth

years),highlighting

the

importance

of

all

quarters,

contributionstofullyearadvertisingrevenue.Digital

video

shows

the

strongestgrowth

while

search

continues

to

growandmaintains

highest

share

of

marketInternetadvertisingrevenue

returnsto

double

digit

growth

withstrongestgainssince20212024Highlights6PwC

|

IAB

InternetAdvertising

Revenue

Report7Commercemedia•

Withincommercemedia,retail

media

networkadvertisingrevenuesrose23.0%YoYto

reach$53.7billion

in2024.•

The$10.1billionincrease

reinforcesthe

growingimportance

of

first-party

data

ecosystems

and

closed-loop

reporting,as

brands

shift

towards

privacy-compliant

audience

targeting

in

response

to

cookiedeprecation

and

evolving

privacy

regulations.•Given

the

sector’s

rapid

expansion

in

recent

years,

itscurrentrevenuetrajectorysignalsstronglong-termgrowth

potential,positioning

retail

media

networks

as

akey

pillar

in

the

future

of

performance-driven

advertising.Social

media•

After

a

period

of

slower

growth

in2023,

social

mediaadvertising

revenue

rebounded

with

a36.7%YoYgrowth

in2024.•Social

media

advertising

revenues

saw

an

increase

of$23.8billion

since2023,totaling$88.8

billion

in2024.•

This

increase

signals

a

renewed

advertiser

confidence

insocialplatformsinpart

dueto

election

spend

andthepopularityofcommerceandsocial,alongsidework

withcreatorstoamplifybrand

message.Socialmediagrowth

has

picked

up

againaftera

slower

2023Retailmedianetwork

advertisingrevenuesshowstrongsigns

ofcontinuedgrowth2024Highlights

(continued)Inparallel,AI

isbeginningtodisrupt

core

advertisingchannels,particularlysearch,wheremodels

like

Google’sSearchGenerative

Experienceand

platforms

like

Perplexity

areshiftingconsumerexpectationstowardconversational,answer-based

experiences

rather

than

static

text

ads.UnlikeconventionalSERP(Search

Engine

Results

Page)rankings,where

brands

bidforplacement

ina

listof

links,

AI-poweredsearchmodelsblendsponsoredcontent

intoorganic

responses,creating

a

native,

non-disruptive

adformat.These

models

move

away

from

traditional

keyword-

basedbiddingandtowardsponsoredcontentembedded

directlyintoAI-generatedresults,fundamentallychanginghowbrandsshow

upand

compete.2Yet

despite

this

potential,AI

integration

within

mediacampaigns

remains

incomplete

across

the

industry–with70%of

agencies,brands,and

publishers

not

yet

fullyscalingAIacrossmediaplanning,activation,

and

analysis.Part

of

the

challenge

is

structural.

Data

readiness,security,

andtoolfragmentationarethemostpressingconcerns,with

nearly

two-thirds

of

brands

and

agencies

struggling

toensureAI-generated

insightsareaccurate,secure,andcompliant.Additionally,lack

of

standardization

across

AI

tools

is

creating

inefficiencies,

limiting

AI’s

full-scaleadoption

and

signaling

a

gap

between

capabilityand

execution.3AI

is

not

just

automating

advertising–

it’s

reshaping

theentire

media

business

model.

It’s

enabling

companies

toenhance

ad

targeting,optimize

inventory

management,

andimprove

audience

engagement,while

also

freeing

up

theworkforce

to

focus

on

strategic

consulting,data-driveninsights,andhigh-impactcreativeinnovation.4

GenAItools

suchas

Microsoft'sCopilotandOpenAI'sChatGPT

are

set

totransformboth

B2Band

B2Cexperiences,especially

in

theareasofrecommendationsanddiscovery-

reshapingdigitalsearchasweknow

ittodayand

expanding

its

impactfar

beyond.

But

even

as

AI

takes

on

more

operational

tasks,human

creativity

remains

essential

for

crafting

compellingbrand

stories,evoking

emotion,and

making

meaningfulconnections

with

consumers.As

AI

becomes

moreautonomous,it

presents

both

an

opportunity

and

animperative

for

companies

to

reimagine

the

operating

modelbetween

the

AI

tool

and

human

creativity.Belowarefive

keytrendsindustryleadersshould

focusonin

the

nearfuture:1.AI-DrivenAdvertising:

FromAutomationtoTransformationAIhaslongsupporteddigitaladvertising

by

automating

workflows,optimizingbids,andscalingpersonalization.But

in2024,anewgenerationofAI–

led

by

generative

andagentic

models–is

reshaping

the

role

AI

plays

entirely.Thesenewformsaremovingbeyond

operational

efficiencytoenablefull-processtransformation,includingtheability

togeneratecreativecontent,makeautonomousdecisions,andplancampaignsacross

platforms.1We’ve

already

seen

early

momentum

in

creativeapplications,where

marketers

are

using

AI

to

generatecopy,images,and

video

variations

at

scale.Agentic

AI–a

more

advanced

form

of

AI

that

can

independently

plan,make

decisions,and

take

actions

across

systems–

ispoisedtofundamentallyrestructuretheadoperationsstack,moving

from

reactive

execution

to

proactive,

self-

optimizingsystems.In2024,digitaladvertising

reachednew

heights–fueled

byAI

innovation,evolvingprivacyframeworks,and

afundamentalshiftin

how

andwhereadvertisers

connect

with

consumers.Asthelandscape

grows

morecomplex

and

outcomes-focused,marketersmust

adaptto

amarketplacethat

increasinglyrewardsagility,accountability,andrelevance.1.

Vranica,S.(December

14,2024).Sorry,MadMen.The

AdRevolutionIsHere.WSJ;TheWallStreetJournal.2.McCoy,K.(January30,2025).Fragmentation

comes

to

searchadvertisingasmarketersgrapplewithshiftingsearchbehavior.Digiday./

marketing/fragmentation-comes-to-search-advertising-as-marketers-grapple-with-shifting-search-behavior/3.IAB.(March24,2025).Stateof

Data2025:TheNow,TheNear

andtheNextEvolutionof

AIforMediaCampaigns.

/

wp-content/uploads/2025/03/IAB_State_of_Data_2025_Companion_Guide_March_2025.pdf4.

Voss,K.(March,20,2025).

AI

isreshapingB2Bcontentmarketing.EMARKETER./content/ai-reshaping-b2b-content-marketingStateof

theIndustry:2025andbeyond82.

Privacy&Regulation:The

Riseof

First-PartyDataStrategiesThedigitaladvertisingecosystemis

undergoingafundamental

shift

driven

by

signal

loss

—most

notably,

theincreasedplatform-levelrestrictions.Thesechangesarereducing

the

availability

of

user-level

identifiers,

pushingadvertiserstorethinkhowtheymeasure

performance,attribute

outcomes,and

reach

the

right

audiences.

Inresponse,brands

are

pivoting

to

privacy-first

strategies,

leveragingfirst-partydata,contextualadvertising,andcollaboration

tools

such

as

data

clean

rooms.5Cleanrooms,onceniche,

are

now

maturing

as

a

keycomponent

of

data

strategy

—enabling

secure,compliantdata

collaboration

between

advertisers,publishers,

andplatformswithoutexposingpersonalinformation.Meanwhile,the

industry

isexploring

ID-lesssolutionsandprobabilistic

approaches

to

fill

gaps

traditionally

covered

bycookies

and

alternative

IDs.6

In2024,Google

paused

the

fulldeprecationofthird-partycookiesinChrome

and

placedgreateremphasisonusercontrol,

underscoringthe

importance

ofcontinuedindustryexperimentationwithprivacy-preserving

technologies

—aswellasconsumerawareness

andunderstandingofprivacy

protections.7AI

isbeginningtofillthatgap.

Emergingtoolsare

usingmachine

learning

and

predictive

analytics

to

surface

insightsacross

targeting,segmentation,and

measurement

—areashistorically

dependent

on

deterministic

IDs.Theseadvancements

not

only

help

maintain

performance

amidsignal

degradation

but

also

offer

scalable,

privacy-consciousalternatives

that

can

adapt

to

an

evolving

regulatorylandscape.In2024,the

U.S.privacylandscapeexpanded

significantly,with

seven

new

states

enacting

comprehensive

privacy

laws,bringing

the

total

to20active

laws

nationwide.8

Maryland’sOnline

Data

PrivacyAct(MODPA)

law

introducednotablystrict

data

minimization

requirements,while

California’sPrivacy

Protection

Agency(CPPA)advanced

rulemakingaround

automated

decision-making,risk

assessments,andcybersecurity.Inresponse,companiesaregrapplingwith

increasedcompliancecomplexity

—debatingwhethertoadoptone-size-fits-all

policies

across

the

U.S.or

manage

nuanced,state-by-state

approaches.

This

patchwork

environment

isforcingbrandstobuildmoreflexible,

privacy-conscious

infrastructures,oftenrequiringadditionallegal,technical,

andoperationalresourcestostaycompliant.Theincreaseofsignal

lossandgrowing

privacy

regulationsisfurtheracceleratingtheneedforcontextualsolutions.Platforms

like

Redditare

leadingtheshiftawayfrombehavioraltracking

by

leveragingnatural

languageprocessing(NLP)drivencontextualtoolstoserverelevant

ads.This

approach

makes

platforms

more

resilientto

changes

like

the

phase-out

of

cookies

and

evolvingregulations.9Through

itall,consumersremainatthecenter

of

the

privacyconversation.While70%of

U.S.consumersareaware

ofprivacy

laws,only40%know

they

can

access

or

delete

theirdata–revealingpersistentknowledge

gaps.

Nearly

60%

ofU.S.consumers

find

privacy

settings

confusing

andinconvenient,highlighting

the

need

for

simpler,

moretransparent

user

experiences.10

Still,consumers

are

not

anti-

advertising:mostacceptpersonalizedadswhenthevalueexchange

is

clear,and

only2%

cite

ad

targeting

as

atopconcern,compared

to

more

pressing

fears

like

fraud

oridentitytheft.Consumers

want

protection

and

control

over

their

data

butnot

at

the

cost

of

accessibility

—they

favor

targetedregulationsforhigh-riskareas(e.g.,sensitive

data)

whilepreserving

personalization

where

the

benefits

outweigh

therisks.

Brandsand

publishersare

investingheavily

inconsumertrust,prioritizingtransparencyandconsent-driven

marketing

strategies.The

shift

to

privacy-firstadvertising

is

not

just

a

compliance

necessity

but

acompetitiveadvantage,withconsumersincreasinglyfavoring

brands

that

respect

their

data

and

offerpersonalizedexperienceswithoutintrusivetracking.5.TheConsumerPerspectiveonPrivacy,Preference,andPersonalization.(2025,

March

10).

IAB./insights/the-consumer-perspective-on-privacy-preference-and-personalization/6.IAB

Tech

Lab.ID

Solutions.(July

11,2024).

https:///id-solutions/7.Liu,S.(July23,2024).Google

Finally

Scraps

Its

Cookie

Deprecation

Plans.Forrester.https://www.forrester.com/blogs/google-finally-scraps-its-cookie-

deprecation-plans/8.Lamont,K.,&Stauss,

D.(September

10,

2024).Retrospective:2024incomprehensivestatedata

privacylaw.

IAPP./news/a/

retrospective-2024-in-comprehensive-state-data-privacy-law9.Goldman,J.(January7,2025).Reddit

launches

AMA

Ads

and

Pro

Trends

to

boost

ad

capabilities.eMarketer.https://www.emarketer.com/content/reddit-

launches-ama-ads-pro-trends-boost-ad-capabilities10.

IAB.(March

10,2025).TheConsumerPerspectiveonPrivacy,

Preference,

and

Personalization.

/insights/the-consumer-perspective-on-

privacy-preference-and-personalization/amazon-prime-video-ad-tier-launch-leads-cpm-price-plummetPwC

|

IAB

InternetAdvertising

Revenue

Report93.Streaming,CTV,andSkinny

Bundles:Monetization

in

a

Fragmented

LandscapeStreamingcontinuestodominatetheentertainmentlandscape,withadvertisersreallocatingbudgetsfromtraditional

linear

TV

to

digital-first

platforms.11

Theproliferation

of

ad-supported

streaming

tiers–led

by

Netflix,Disney+,andAmazon

PrimeVideo–hasincreasedavailableinventory

while

exerting

downward

pressure

on

CPMs.Thisshift

has

created

new

opportunities

for

brands

to

reachengagedaudiencesatmorecompetitive

rates.Additionally,companieslikeRokuandSamsungaretransformingtheCTVspacebyintegratingadvancedoperatingsystemsandpersonalizedcontentexperiencesdirectlyintosmartTVs,makingstreamingmoreseamlessand

accessible.Theirinnovationsinadvertisingtechnologyanduserinterfacedesignarereshapinghow

consumersengage

withcontentandhowbrandsreach

audiences.Live

sports

streaming

is

further

accelerating

the

migration

ofaddollarsawayfrom

linearTV.12

Majordigital

platforms

likeYouTubeTVandAmazon

Primearesecuringexclusivesports

rights

rather

than

traditional

broadcasters,

makinglive-streamedsportsacriticaldriverof

CTV

ad

revenue

asadvertisers

increasetheir

investments

insportssponsorshipsandin-gameadvertising.Meanwhile,theriseofskinnybundles–smaller,moreaffordable

streaming

packages–offers

a

potentialcounterbalancetosubscriberchurn.Serviceslike

Hulu

+

LiveTVand

FuboTVare

bundling

premiumcontentat

lowercosts,reducingsubscriberchurnwhileexpandingad-supported

inventory.13The

streaming

market

remains

highly

fragmented,withgrowingcompetitiondrivingdownadpricesand

pressuringplatforms

to

differentiate.While

self-serve

ad

platforms

andprogrammatic

buying

in

CTV

offer

advertisers

greater

controland

targeting

efficiency,they

also

contribute

to

furtherfragmentation,making

it

harder

to

manage

reach,frequency,and

measurement

across

platforms.4.CreatorEconomy:The

ShifttoLong-Term

PartnershipsandMulti-Platform

ExpansionThecreatoreconomycontinuestothrive,withinfluencers

playingacentralrolein

shaping

digital

advertisingstrategies.

Brands

are

moving

away

from

one-off

influencercollaborationsandfocusingonlong-termambassadorpartnerships,ensuringmoreauthenticandsustained

consumerengagement.Creators

are

also

diversifying

beyond

social

media,expandingintolong-formcontent,podcasting,

newsletters,and

direct-to-consumer(DTC)brands.This

shift

is

drivingnewmonetizationopportunitiesandenablingbrandstointegrateinfluencermarketinginto

broader,cross-channelstrategies.

Meanwhile,platformsareincreasinglyprioritizingcreatormonetization,offeringbetterrevenue-sharingmodels

and

tools

for

direct

audience

monetization.14However,monetization

is

not

equally

accessible

for

allcreators.Whileadvertiserspendoninfluencermarketingcontinues

to

rise,some

creators

are

struggling

to

stand

outin

an

increasingly

saturated

space,making

it

harder

to

builda

sustainable

income

or

find

their

niche.Short-form

video(e.g.,TikTok,YouTubeShorts,andInstagram

Reels)remains

the

dominant

content

format,butnewersocialplatformsanddecentralizedcontentnetworks

arechallengingincumbents,forcingbrandstoadapttheir

strategiestoemergingconsumerbehaviors.For

brands,the

key

to

success

in

the

creator

economy

isauthenticity,audience

trust,and

strategic

alignment.Thosewhoinvestincreator-ledadvertisingwith

a

long-termvision

willbebestpositionedtocapitalize

onthis

evolving

space.11.

Liederman,E.(December9,2024).

Amazon

Prime

Video’s

ad

tier

launch

leads

to

CPM

price

plummet.EMARKETER.

https://www.emarketer.com/content/

amazon-prime-video-ad-tier-launch-leads-cpm-price-plummet12.

Krieger,J.(February5,2025).

A

streaming-only

Super

Bowl

may

arrive

sooner

than

you

think.The

Real

Economy

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