Despite warnings of an impending AI downturn, companies have been ramping up advertising to help market various AI products and services.
Companies spent more than $107 million on ads marketing AI-related products and services in the first half of 2024, more than 19 times the $5.6 million total spent in the same period last year. The findings, based on data provided by MediaRadar, also show the total number of companies buying ads to market AI products increased from 186 in 2023 to 575 so far in 2024. Nearly half of total ad spend came from just three companies with various AI products — IBM, Microsoft, and GoDaddy — which accounted for $52 million, or 48% of total spend through June 2024. Of the rest, just 45 other companies spent more than $100,00 each. (MediaRadar didn’t provide a full list of every company spending on AI-related ads.)
According to MediaRadar, TV advertising accounted for 54% of all AI-related ad spend. Online video advertising passed $15 million, making up 14% of total ad spend, while digital display ads captured 13% at over $14 million. Paid social advertising exceeded $13 million, accounting for 12%, with a concentration on ad buys via X (Twitter). The remaining 7% was a mix of print, native, OTT, and mobile advertising.
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The original post is at Marketing Archives – Digiday
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