Spending on digital advertising in the US is forecasted to settle into a period of moderate growth. From 2023 to 2028, growth will — for the first time — fall to single digits due to the maturity of the market. In our new US ad spending forecast covering 2023 to 2028, we examine trends impacting digital’s growth over the next five years.

First-Party Data Will Be Digital’s Next Growth Engine

As growth slows, the battleground for digital advertising disruption will center on privacy and data collection as the landscape transitions away from third-party cookies. Current trends are expected to favor formats such as social media, digital video, retail media, and walled gardens that are sitting on a fortune of first-party data. In fact, spending on social media advertising is set to rise the quickest, expanding at an annual compound growth rate of 8.0% between 2023 and 2028 to reach over $100 billion by 2028.

Learn more in our 2024 Advertising Forecast, US, which examines media spend across eight formats in the US. The report is accompanied by an Excel spreadsheet that contains forecast data from 2014 to 2028.