December 28, 2024

Digital Marketing Giants Set to Shine in a Growing $1.19 Trillion Market

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News Summary

The global digital marketing market is set to grow from $410.70 billion in 2024 to $1.19 trillion by 2033, driven by major players such as Thryv Holdings, The Trade Desk, and HubSpot. These companies are leveraging technology and innovative solutions for significant growth, demonstrating the increasing relevance of digital marketing in today’s technology-driven landscape.

Digital Marketing Giants Set to Shine in a Growing $1.19 Trillion Market

The world of digital marketing is buzzing with excitement as major players hear the cash registers ringing louder than ever before. According to recent estimates, the global digital marketing market is valued at $410.70 billion in 2024, and it’s projected to skyrocket to $1.19 trillion by 2033. That’s a comfortable growth rate of 11.2% each year!

Key Players Making Waves

Three names are making headlines in this arena, and they are Thryv Holdings, Inc. (THRY), The Trade Desk, Inc. (TTD), and HubSpot, Inc. (HUBS). These companies are riding the digital wave, leveraging technology and innovation to provide stellar services that help businesses connect with their customers in more meaningful ways.

Thryv Holdings: A Helping Hand for Small Businesses

Let’s start with Thryv, which offers digital marketing solutions specifically designed for small to medium-sized businesses. They provide everything from customer relationship management (CRM) tools to search engine optimization (SEO), digital advertising, appointment scheduling, and even payment processing!

Recently, Thryv completed a significant move, acquiring Infusion Software for a whopping $80 million on October 31, 2024. This acquisition promises to enhance their Software as a Service (SaaS) offerings, enabling small businesses to thrive in a competitive marketplace.

In the third quarter of 2024, Thryv reported impressive revenue of $179.85 million, which is a testament to their growing influence. Notably, they experienced a 5.6% increase in adjusted gross profit, amounting to $116.84 million. And if you’re looking for even more good news, their adjusted EBITDA reached $19.62 million, marking an impressive 167.7% year-on-year increase!

The Trade Desk: Innovating Digital Advertising

Shifting our focus to The Trade Desk, this company provides a powerful cloud-based platform that helps brands effectively manage their digital advertising campaigns. It’s no wonder they reported soaring revenues—27.3% year-over-year increase, totaling $628.02 million in Q3 of 2024.

With a strong non-GAAP net income of $207.23 million in the same quarter, their non-GAAP EPS (earnings per share) hit $0.41. Investors are clearly excited, as TTD’s stock has climbed 27.1% over the last six months and a whopping 65.3% over the past year, closing at $121.67. Looking ahead, the Q4 2024 projections are looking bright, with expected revenue reaching $759.32 million—a 25.3% increase—and EPS expected to grow by 38.6%.

HubSpot: Redsifining Customer Engagement

Lastly, we have HubSpot, known for its exceptional cloud-based CRM platform, which caters to marketing, sales, and customer service. They reported a remarkable 20.1% increase in revenue, bringing in $669.72 million in Q3 of 2024. Their non-GAAP operating income was equally impressive at $125.21 million, a 35.9% increase year-over-year.

Projecting ahead, HubSpot is expected to achieve a revenue of $673.96 million in Q4, reflecting a healthy 15.8% year-over-year growth. Their stock also saw decent growth, closing at $714.96 with a notable 24.6% increase over the past six months.

The Growing Future of Digital Marketing

All three of these companies illustrate the bright future of the digital marketing industry, which is being reshaped by innovations such as augmented reality (AR), virtual reality (VR), and AI-powered chatbots. Their strong performance reflects the increasing importance and relevance of digital marketing in our technology-driven world.

As they continue to make strides, analysts project very generous outcomes for these companies. Indeed, with the digital marketing industry expanding rapidly, it seems that Thryv, The Trade Desk, and HubSpot are well positioned to thrive in a vibrant and growing marketplace.