Advertising spending in paid digital media by the US financial services industry will hit $6.20 billion in 2014 and rise to $9.57 billion by 2018, for a five-year compound annual growth rate of 12.5%. Digital ad spending among financial marketers grew 15.3% in 2013 and is projected to increase another 16.9% this year, with growth rates tapering off but remaining positive through the forecast period, according to a new eMarketer report, “The US Financial Services Industry 2014: Digital Ad Spending Forecast and Trends,” part of our new report series, “2014 Digital Ad Spending Benchmarks by Industry.”
Mobile advertising is becoming a substantial part of the digital media mix for the financial industry, driven by broader market trends as well as a concerted push by institutions to get consumers to use mobile financial services. eMarketer estimates that $2.20 billion, or 35.5% total spend by the sector, will go toward paid mobile ads by the end of 2014. Read the rest at eMarketer.