U.S. paid search spend forecast to hit $110 billion in 2023

Paid search spend is expected to reach $110 billion this year, according to a new eMarketer forecast. Within search, retail media networks (RMNs) are a rising star, with 18.7% growth in retail media search. Until then, it’s good to see overall paid search spend growth rising – especially in retail. Digital media should make up 74.6% of total U.S. media spend, which is expected to reach nearly $264 billion in 2023. CTV ad spend is on pace to hit $25 billion this year and account for 9.5% of total digital ad revenue, according to eMarketer.