The ranking of the top 200 U.S. advertisers includes 33 internet-centric companies ranging from Alphabet, the parent company of Google, to Wayfair, the online retailer of furniture and home goods.
Combined U.S. spending for these internet-centric marketers edged up just 0.3% in 2023, coming in below the 3.0% increase for the remaining 167 marketers. Median spending slipped 1.3% for the internet plays, vs. 4.9% median growth for the other companies.
Tighter budgets at internet firms mark a turnabout from recent years, when spending growth in Leading National Advertisers reports for internet-centric ventures far exceeded spending growth at other marketers.
Budget shifts come as internet firms grapple with various issues including slowing revenue growth in maturing markets and challenges involving business disruption from artificial intelligence.
Among the 33 internet-centric marketers, 16 increased spending and 17 cut spending, according to Ad Age Datacenter’s estimates.
To be sure, some emerging internet ventures have opened up their budgets to build their brands. E-commerce play PDD Holdings has been spending like a billionaire to tout its Temu brand, including Super Bowl appearances in 2023 and 2024.