Paid search advertising revenue reached a new high in 2023, although annual growth continues to decline, according to a new report.
In total, search accounted for $88.8 billion of a record $225 billion in digital advertising revenue in the US, according to the IAB’s Internet Advertising Revenue Report: Full Year 2023, by PwC. This figure represents an increase of $4.4 billion over 2022.
Why we care Paid search gets more expensive and challenging every year, with less transparency. But advertisers continue to embrace paid search for one simple reason: it drives results for brands and businesses.
Paid search is still king. Search continues to have the largest market share of advertising at 39.5%, but this is down from 40.2% in 2022, 41.4% in 2021 and 42.2% in 2020.
But year-over-year growth in search advertising is slower than the digital industry as a whole and most other advertising formats, according to the report.
the report You can read the report here (registration required).
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About the author
Danny Goodwin has been the editor-in-chief of Search Engine Land & Search Marketing Expo – SMX since 2022. He joined Search Engine Land in 2022 as a senior editor. In addition to reporting on the latest search marketing news, he manages Search Engine Land’s Subject Matter Expert (SME) program. Also helps schedule US SMX events.
Goodwin has been editing and writing about the latest developments and trends in search and digital marketing since 2007. He was previously executive editor of Search Engine Journal (2017-2022), editor-in-chief of Momentology (2014-2016), and editor from Search. Engine Watch (from 2007 to 2014). He has spoken at numerous major search conferences and virtual events, and has brought his expertise to bear in a wide range of publications and podcasts.
