Bloomberg’s data visualizes the advertising industry’s structural shift with brutal clarity. Google Advertising revenue grew from roughly $50 billion in 2012 to over $265 billion in 2024 — a 5x expansion.
Meanwhile, the top four agency holding companies combined (WPP, Omnicom, Publicis, Interpublic) remained essentially flat around $50-60 billion throughout the same period.
The ratio tells the story:Google alone now generates 5x the revenue of all major agencies combined.
Growth 2012-2024:
Google: +476%
Agencies: +22%
This divergence isn’t merely about digital budgets shifting from traditional media. It represents a fundamental reordering of where value accrues in the advertising ecosystem.
The digital transition didn’t just shift budgets — it concentrated value in platforms over intermediaries.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
