US Digital Advertising Market: Internet Ad Revenue 2021-2025 by Format
US internet advertising revenue reached $294.6 billion in 2025 per IAB/PwC. Five-year trend plus search, social, video and commerce media figures.
- Updated October 1, 2026
- 5 min read
- 3 sources
- United States
Executive Summary
US internet advertising revenue was a record $294.6 billion in 2025, up 13.9% on 2024, according to the IAB/PwC Internet Advertising Revenue Report. Revenue was $189.3 billion in 2021, so it has grown in every year since. Social media brought in $117.7 billion and search $114.2 billion in 2025. Commerce media (retail media) grew 18.0% to $63.4 billion. The top 10 companies took 84.1% of all revenue.
Key Numbers
Charts
Annual US internet advertising revenue, actual values reported by IAB/PwC.
Revenue by format in 2025. The categories overlap, so they do not add up to the $294.6 billion total.
- Social$117.7B
- Search$114.2B
- Display$81.6B
- Digital video$78B
- Commerce media$63.4B
- Podcast$2.9B
Data Tables
Quarterly revenue in USD billion, from the IAB/PwC full-year 2025 report.
| Quarter | 2024 | 2025 |
|---|---|---|
| Q1 | 58.0 | 65.0 |
| Q2 | 62.1 | 70.0 |
| Q3 | 64.9 | 74.5 |
| Q4 | 73.7 | 85.0 |
Overview
IAB and PwC have published the Internet Advertising Revenue Report for 30 years. The industry treats it as the benchmark for US advertising revenue across digital media platforms and publishers [1]. The full-year 2025 edition came out on April 16, 2026 [1].
US internet advertising revenue reached a record $294.6 billion in 2025, up 13.9% year over year [1]. IAB notes that 2025 had none of the cyclical events that usually lift ad spending, such as the Olympics, the FIFA World Cup or elections [1].
Historical Data
IAB/PwC figures put US internet ad revenue at $189.3 billion in 2021, $209.7 billion in 2022, $225.0 billion in 2023, $258.6 billion in 2024 and $294.6 billion in 2025 [2]. Growth was 10.8% in 2022, 7.3% in 2023, 14.9% in 2024 and 13.9% in 2025 [2].
The 2024 report links part of that year's 14.9% growth to the presidential election cycle and the Olympics [3]. Every quarter of 2025 came in above the same quarter of 2024. Q4 2025 was the largest quarter, at $85.0 billion, compared with $73.7 billion in Q4 2024 [2].
Segmentation
- Social: $117.7 billion in 2025, about 40.0% of total revenue [1].
- Search (including AI search): $114.2 billion in 2025, up 11%. That is slower than the 15.9% growth search posted in 2024 [1].
- Display: $81.6 billion in 2025 [1].
- Digital video: $78 billion in 2025 [1]. In 2024 video grew 19.2% to $62.1 billion, 24.0% of total revenue that year [3].
- Commerce media: $63.4 billion in 2025, up $9.7 billion (18.0%) on 2024 [2].
- Podcast: $2.9 billion in 2025 [1].
These categories overlap. For example, a video ad on a social platform can count in both. The segment values therefore add up to more than the total.
Market Concentration
Methodology
All figures come from the IAB/PwC Internet Advertising Revenue Report. They cover US advertising revenue earned by digital media platforms and publishers, in nominal US dollars [1][2][3]. The 2021-2025 series and the commerce media and concentration figures come from the full-year 2025 report PDF, which we accessed through a copy hosted by IAB Hong Kong [2]. The 2025 segment values come from IAB's April 16, 2026 news release [1]. The 2024 video figures come from the full-year 2024 report [3]. The segment categories overlap, so we did not chart them as shares of a whole.
Sources
- [1]
Digital Ad Revenue Climbs to Nearly $300B as IAB Celebrates 30 Year Anniversary / IAB / 2026-04-16 / Accessed October 1, 2026 / View source
- [2]
IAB/PwC Internet Advertising Revenue Report: Full Year 2025 / IAB / PwC / 2026-04 / Accessed October 1, 2026 / View source
- [3]
IAB/PwC Internet Advertising Revenue Report: Full Year 2024 / IAB / PwC / 2025-04 / Accessed October 1, 2026 / View source
Figures are reproduced from the publishers above. Calculations marked as our own are derived from these figures. Always check the original source before using a number.
Related Reports
Creator Economy: YouTube Creator Payouts and Partner Program
YouTube paid creators, artists and media companies over $70 billion in 2021-2023 and over $100 billion since 2021. Key payout data for the creator economy.
US E-commerce Market: Sales and Share of Retail
Official US Census Bureau estimates of online retail sales, growth and e-commerce's share of total retail spending.
Global Social Media Usage: Meta Daily Users and Ad Revenue
Social media scale through Meta's results: 3.58 billion daily active people in December 2025 and USD 200.97 billion revenue for full year 2025.
India E-commerce Market: GeM Public Procurement, MSMEs and ONDC
India's Government e-Marketplace recorded INR 5.4 lakh crore GMV in FY2024-25. Official data on GeM growth, MSME participation and ONDC sellers.