New York City has some of the most expensive ads in the US
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New York’s biggest advertisers have taken advantage of a massive surge in digital advertising to boost the city’s advertising revenues by up to 80 per cent, according to a new report.
The advertising boom has seen the number of advertisers who have bought online ads in New York rise from around 5,000 in 2016 to nearly 20,000 today, according the latest report by the ad agency The Advertising Bureau.
New York City’s advertising industry saw a 35 per cent increase in digital ad spending last year, the report said, with the biggest brands accounting for nearly three quarters of all the digital ad buys.
The rise of the online advertising industry has seen a massive boost in the number and intensity of online advertising campaigns in New Jersey, New York and Delaware, the research firm said.
It said the industry accounted for more than 60 per cent of total digital ad spend in New Zealand last year and over 80 percent of total ad spending in New Hampshire.
Advertisers in the city of Newark and the state of New York have been buying online advertising for about three years, the firm said, but New York was the only major city to witness such a big spike in spending.
“It is clear to see that the digital advertising industry is rapidly maturing, with a number of top advertising agencies now seeing their digital spending grow in New Yorkers cities, states and territories,” Mr Voss said.
“We are seeing a significant amount of spending in all of these cities as well as in New England.
The digital advertising boom is a real opportunity for advertisers, particularly in the digital world, to tap into the opportunity and to drive greater engagement across all digital platforms.
There are a number cities and states that are experiencing huge growth in their digital advertising budgets and there are even more cities and regions that are seeing an increase in spending on digital advertising.
It is no secret that the growth in digital ads has had an impact on the New York ad marketplace, as well, as we saw a significant rise in the amount of digital ad clicks across the state and the city in general.”
This is a significant trend that is a direct result of the rise in online advertising spending in cities like New York, and the digital marketplace as a whole,” Mr Haines said.”
Digital advertising is becoming more prevalent in New Orleans and many other cities across the country.
“New York is no exception to this trend and will see an increase as the digital economy continues to mature and gain momentum.”
The city of New Jersey has had a strong advertising boom in recent years, with more than 200 advertisers spending more than $1 billion in 2016 on advertising, according data from the New Jersey Department of Business, Economic Development and Tourism.
In New York state, the city also saw an increase of more than 20 per cent in digital spending from 2015 to 2016.
Advertiser spending in the state increased from $7.8 billion in 2015 to $8.6 billion in 2017, according government data, with an average of $2.1 billion spent per day.
In Delaware, online advertising increased by 15 per cent from 2015 and $1.3 billion from 2015 through 2017.
The city’s spending on advertising increased from nearly $2 billion in 2014 to nearly $4 billion in 2018.
In addition, the advertising industry spent $1,200 per day in New Mexico, an increase from $750 per day a year earlier.
“There is a great opportunity for local advertisers in the industry, with advertisers in New Haven and Las Vegas and even San Diego and Santa Barbara seeing a boost in spending,” Mr Farrar said.
“Advertisors have been seeing an uptick in ad spending from across the US, especially in areas where the ad economy is still developing, like New Jersey.”
New York’s biggest advertisers have taken advantage of a massive surge in digital advertising to boost the city’s advertising revenues…