I don't think so... If this is roughly right[0]: https://www.statista.com/statistics/273288/advertising-spending-worldwide/ https://www.statista.com/statistics/

I don't think so... If this is roughly right[0]: https://www.statista.com/statistics/273288/advertising-spending-worldwide/ https://www.statista.com/statistics/273288/advertising-spend... Then ad spending has increased by a little over 6%/yr.. In comparison, the worldbank says world gdp rose 2.5% + 2% inflation = 4.5%... so 1.5% higher than the average industry. That doesn't sound like a bubble to me. If google is growing faster than 6%... then that would mean its just taking market share from traditional advertising. I would expect that, since TV and radio are losing their share of time to online sources. 0. This is a worldwide number.. since google is a multinational, so this is probably the most appropriate number IMO