Editors note: We are republishing an article by WNIP that looks into the digital advertising market. This piece was originally published on What’s New in Publishing.

The latest Digital Publishers’ Revenue Index (DPRI) from the Association of Online Publishers (AOP) and Deloitte has revealed digital revenue grew 18% to £610M on a 12-month moving annual total basis to March 2022.

Display advertising held its position as the largest category by revenue for digital publishers; with income reaching £66M in Q1 2022, an increase of 24% against Q1 2021. Furthermore, a majority of survey participants (83%) reported advertising revenue growth as a key priority over the next 12 months.

Multi-platform revenue saw an increase of 22% compared to Q1 2021, while mobile devices and desktop saw revenue declines of 16% and 35% respectively in Q1 2022. This indicates advertising campaigns are being run across at least two different devices, reflecting the way consumers access content across platforms.

During Q1 2022, digital audio saw the strongest growth, increasing by 500% to £4.2M when compared to Q1 2021.

We’ve seen revenue for digital audio grow steadily over the last few quarters, driven in part by what’s being deemed the ‘golden age of podcasts’. The 500% revenue growth reported for this channel in Q1 2022 demonstrates that publishers are now successfully monetising this type of content.

Richard Reeves, Managing Director, AOP

Dan Ison, lead partner for telecommunications, media and entertainment at Deloitte, adds, “Tuning into content throughout the day – whether that’s while commuting, preparing dinner or driving a car – creates an intimate experience for audiences while engendering loyalty.”

At a time when the cost-of-living crisis is squeezing household finances, many will be questioning the necessity of their media subscriptions. This makes it all the more important for publishers to be concentrating on the creation of regular, unmissable content.

Dan Ison, lead partner for telecommunications, media and entertainment at Deloitte

The latest AOP/Deloitte DPRI follows hot on the heels of last week’s IAB Europe AdEx 2021 Benchmark Study which revealed double-digit digital advertising growth across all European markets. Overall, in 2021, digital advertising grew 30.5% to €92bn.

This exponential growth shows that the digital advertising market has truly bounced back from the challenges and impact of COVID-19.

IAB Europe AdEx 2021 Benchmark Study 

Photo by Nathan Watson on Unsplash