New York—Advertising spending by U.S. financial services companies will reach $5.20 billion this year, an increase of 13% over 2012, according to a report by eMarketer.
The report, “The U.S. Financial Services Industry 2013: Digital Ad Spending Forecast and Key Trends,” said 62% of this digital ad spending among banks, insurers, credit-card issuers and investment firms will be for direct-response campaigns. The balance will focus on branding programs.
Financial services companies' digital ad spending will reach $7.38 billion by 2017, representing a 9.9% compound annual growth rate since 2012, eMarketer projected. Search and display will command the majority of digital spending across the category, with growth expected in the areas of mobile, local, video and native advertising, according to the report.