ChatGPT has been running ads for less than six months, but it’s fueling a category expected to capture almost 40% of search revenue and generate $100 billion in revenues by the end of this decade.
WPP’s latest ad spend forecasts, published today (June 16) highlight AI search as the fastest growing investment area in advertising.
While the category will account for just 1.9% of search ad revenue this year ($301 million), that’s set to rise to 39.2% by 2031, according to its regularly published forecasts, which include AI search estimates for the first time. Total search revenue will make up 21.8% of total global ad revenue this year.
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