What is Digital Advertising?
Digital Advertising is when businesses deliver promotional advertisements to consumers through a technology approach rather then print. This includes anything from web banners, audio advertisements, commercials, etc.
The Digital Marketing & Advertising Industry is on the rise as the print industry seems to be sinking, more specifically in the publishing industry. According to the article Digital Advertising Agencies in the United States on IBISWorld Industry Report the annual growth of this industry has been 6.5% from 2010 to 2015, more than 5,000 new businesses and $13 billion dollars in Revenue.
Stivaros, Chrystalleni. "Digital Advertising Agencies in the US." IBISWorld. IBISWorld, Dec. 2016. Web. 18 Dec. 2016. <http://clients1.ibisworld.com/reports/us/industry/default.aspx?entid=5889>.
Is there More to Come?
The growth in Digital is minimal compared to internet traffic due to many businesses, specifically retail whom are the largest of advertisers, with limited budget for advertisements. The limitation in budgeting is the result of print advertising still being as large as it is in this digital age, because print is still able to produce and distribute more at a lower cost. It also has to do with demographics as the baby boomer population still does not necessarily use technology like today’s generation, businesses are still able to make a profit off the inexpensive print advertising.
What does this Mean for the Photo Industry?
The Photography Industry consists of companies and individuals whom provide businesses, their consumers, with photographic services such as; commercial photography, videography, and/or video finishing. Although there has been a technological shift in not only the marketing industry but the world in general, photography revenue will continue to increase due to the constant demand through many different industries. (As seen in the Diagram below.)
DeCarlo, Jonathan. "Photography in the US." IBISWorld. IBISWorld, Sept. 2016. Web. 18 Sept. 2016. <http://clients1.ibisworld.com/reports/us/industry/default.aspx?entid=1443#prettyPhoto>.