For real: Digital spending will surpass TV this year

The shift to digital advertising is happening even faster than forecasters originally thought.

Digital ad spending will hit $72.09 billion this, year, according to an updated forecast from eMarketer. That will just edge out the $71.29 billion spent on TV, making it the first time digital spending beat TV in a calendar year.

In its previous forecast in March, eMarketer predicted 2017 would be the first year digital surpassed TV spending.

Digital will continue healthy growth through at least 2020, when eMarketer predicts spending will hit $113.18 billion. As a comparison, the company says TV spending will make it only to $77.93 billion that year.

“Digital advertising is not only pulling dollars from traditional media, but it’s also creating new advertising opportunities at the local and national level,” eMarketer forecasting analyst Martín Utreras said in a release.

Social and video driving growth

There are a number of factors driving the digital growth. One is mobile ad spending, which will jump 45.0 percent third year to $45.95 billion.

Another is digital video, which will reach $10.30 billion this year, or 14.3 percent of total digital spending. Digital video will grow another 15.1 percent next year.

That said, display will remain the top digital format this year, bringing in $34.56 billion. That will edge out search spending, which will come in at $33.28 billion.

Tags: 2016 ad forecast, digital ad spending, digital video, display advertising, emarketer, search advertising