US banks and insurance companies slow down ad spending to compete with fintechs; Spotify's ad revenue story, Alexa 2.0, and social audio's monetization problem

While financial service's digital ad spending has historically outpaced the digital ad market, we expect a slowdown in 2021 and beyond as incumbents in both banking and insurance focus their budgets on technological innovations to compete with emerging fintech companies. August 5, 2021 [US banks and insurance companies slow down ad spending to compete with fintechs; Spotify's ad revenue story, Alexa 2.0, and social audio's monetization problem]() The forecast: While financial service's digital ad spending has historically outpaced the digital ad market, we expect a slowdown in 2021 and beyond as incumbents in both banking and insurance focus their budgets on technological innovations to compete with emerging fintech companies. A closer look: - Finserv institutions will spend $24.49 billion on digital ads in 2021, up from $20.99 billion in 2020, but spending growth is declining. Finservs spent 20.3% more in 2020 than they did the previous year, but this growth will slow to 11.3% by 2023. - The last 18 months propelled the transition to digital, with financial services firms focusing on shifting customers to mobile apps and moving customer service online. - Banks and insurance companies will be responsible for a combined 79.2% [Read the full article.]() [Back-to-School Shopping Predictions]() Learn to boost brand loyalty and captivate your shoppers along the entire path to purchase with customer data. Watch eMarketer’s One-on-One to discover marketing strategies that leverage data, location, and merge online and offline shopping experiences to win over consumers. Sponsored content from Shopkick. [Watch Now]() [Podcast: Spotify's ad revenue story, Alexa 2.0, and social audio's monetization problem](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) On today's episode, we discuss Spotify's Q2 performance, what to make of its ad revenue growth, and how its podcast investments are getting on. We then talk about where Amazon wants to take Alexa, social audio's monetization issue, and the significance of the NBA and iHeartMedia podcast partnership. Tune in to the discussion with eMarketer senior forecasting analyst at Insider Intelligence Peter Vahle. [“Behind the Numbers" is made possible by VTEX. Listen in.](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) [chart-image](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) [[Analyst Webinar] Advertising’s Extended Identity Crisis]() The current way of doing business will be affected by the ATT framework and the eventual death of third-party cookies. Learn best practices to confront these challenges. Watch “Ad Targeting in the Extended Identity Crisis,” an eMarketer Analyst Webinar, made possible by BlueConic. [Watch Now]() [Report: Mcommerce Forecast 2021](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) Although mcommerce will account for only 5.9% of total retail sales in the US in 2021, it is an important piece of the puzzle for retailers and other verticals that sell directly to consumers. This report examines our forecasts for US mcommerce sales and explores some of the factors driving growth and what it means for retailers. [Read the executive summary.](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) [chart-image](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) [Social buyer penetration will remain highest in China this year]() In 2021, more than half of digital buyers ages 14 and over in China will make a purchase via social network platforms, the highest social buyer penetration worldwide. [See the chart.]() [chart-image]() /ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM= Publishers can accelerate streaming ad revenue with first-party data. Learn strategies to fully control and monetize your most-valuable asset—data. Join eMarketer’s live Tech-Talk Webinar, presented by Conviva. [Register now.](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) /ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM= /ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM= ©2021 Insider Intelligence Inc. 11 Times Square, New York, NY 10036 eMarketer Daily is published by Insider Intelligence Inc. [Unsubscribe](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) | [Change email address](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) | [Update preferences](/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) | [Advertise](=/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) [Select "Research Submissions"](=/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=) for potential inclusion in the eMarketer Daily. If you cannot view the HTML newsletter, please [read it in your browser here](=/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=). =/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM= =/ODY3LVNMRy05MDEAAAF-tWNsNyrvs-9hyKZa12_-8BbcczoHV6GhitPIygjOmuxcJ4vhqck1Jrw8OTveVUyGXJ_OlVM=