Google announced a $500 million buyout of the Digital Marketing Association on Tuesday that will create a global organization with the largest independent digital marketing network.
The purchase was the biggest in Google’s history and comes amid growing interest in digital marketing and an increasing reliance on online platforms like Twitter, Facebook, YouTube and others.
The Digital Marketing Alliance, which Google named in February, is the most prominent group of professional digital marketers and industry experts that Google has acquired in the last decade, according to the nonprofit group Digital Marketing Professionals.
The group, founded by former Google exec Steve Jurvetson and backed by the likes of Google Ventures, has been a driving force behind a growing number of online marketing strategies for businesses and individuals.
It is also one of the leading hubs for online content, content discovery, online ads and more, as well as the largest association of online marketers.
The digital marketing group has grown rapidly over the past decade.
Google spent $1.8 billion on digital marketing in 2016, according a report by analytics firm Market Research Group.
The group had nearly $20 billion in revenue last year, up more than 40% from 2015, the group said.
The association has more than 3,400 members and has been active in the industry since 2011.
Digital Marketing Academy, which was founded in 2006, is known for its online classes and other activities.
The organization’s graduates train in digital content creation, online advertising, social media, digital marketing, online distribution, digital content marketing, and digital marketing analytics.
“We are excited to work with Google and the entire digital marketing industry to create an industry-leading organization that will drive the evolution of digital marketing,” said the group’s co-founder and CEO, Michael Cimperman.
Digital marketing is increasingly viewed as an essential part of the modern marketing strategy.
In 2016, marketers spent $9 billion on advertising on platforms like Facebook, Twitter, YouTube, LinkedIn and Google, according the Pew Research Center.
Marketing spending is expected to rise even further in 2018, with online advertising growing 10% in 2018 from a year earlier, according Nielsen.
Digital marketers and advertisers increasingly rely on social media and mobile platforms to reach consumers and connect with them online.
Digital advertising spending on social platforms and mobile is expected grow by 50% and 50% by 2021, respectively, according research from eMarketer.
The industry’s digital spending on mobile platforms is projected to reach $2.3 trillion by 2021.
The total spend on digital advertising is expected at $9.4 trillion by 2019.
Digital Media is the term used to describe the digital content created and distributed by companies and brands to reach an audience.
Digital marketing is one of a handful of industries that use digital media, according Digital Marketing International, a nonprofit group that supports digital media.
Digital media includes video, audio, and images, as opposed to print and advertising.
Digital and online media are growing rapidly, with more than 4 million apps, magazines, books, online stores, and more being launched each month, according Tozi, a company that tracks digital media for companies and publishers.
The $500m deal is the largest digital marketing purchase in history, surpassing Google’s purchase of media company Zoho in 2016.
Google has been aggressively pursuing new digital advertising opportunities and is looking to add more services to its ad-tech platform.
Digital AdEx, a digital ad company that was acquired in 2015 by Yahoo, was one of many digital ad businesses to be acquired by Google in 2016 as the search giant sought to gain greater control over its ad businesses.
The acquisition will give Google access to more advertising revenue, according Jaret Seo, chief digital officer of Digital AdEx.
Digital AdEX said in a statement that Google’s acquisition “will add an important new revenue stream for the company, while also providing us a unique opportunity to build on the growing market share we’ve gained over the last year.”