There is a reason that publishers ranging from The New York Times to The Onion are developing content marketing arms. Marketers spent $26.5 billion on out-of-house content marketing initiatives in 2014, up more than 13 percent from the previous year, according to a recent study released by PQ Media.
That growth is expected to continue, with global content marketing revenues more than doubling to $54.25 billion by 2019, researchers wrote in the consultancy's Global Content Marketing Forecast.
"Key growth drivers include next-gen B2B content, software and consulting firms, as well as consumer research-savvy B2C marketers scrambling to leverage and re-target their valuable content assets to capitalize on the growing influence of Gen-X and Millennial consumer and business end users," a PQ Media press release stated.
B2B companies led the global content marketing sector, generating almost $14 billion in 2014 and accounting for 52.7 percent of targeted end users in 2014, according to the report. The fastest growing B2B content channels included market research and webinars.
"Content marketing has emerged as the most vibrant and talked-about marketing sector of the past five years, building momentum at a faster growth rate each year from 2010 through 2014," Patrick Quinn, CCO of PQ Media, said in the press release.
Global content marketing revenues continued to grow in the first half of 2015, according to PQ Media, increasing by 14.4 percent compared to the year-earlier period. The United States accounted for content marketing revenues of $12.11 billion in 2014, leading the category.
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