PMA Performance Marketing Industry Study 2025
Download the 2025 US Affiliate Marketing Industry Study
The affiliate marketing industry has undergone a dramatic transformation over the past three years. From explosive growth that’s outpacing e-commerce to major shifts in how advertisers allocate budgets and publishers operate their businesses, the landscape looks fundamentally different from what it was just a few years ago.
This definitive study examines the current state of performance marketing in the United States, based on data from eight leading affiliate networks and more than 50 publishers across all major categories.
The study shows that affiliate marketing spending increased by 49.8% from $9.1 billion in 2021 to $13.62 billion in 2024, representing a compound annual growth rate (CAGR) of 14.42%—twice the pace of the broader e-commerce market.
The affiliate marketing investment generated $113 billion in e-commerce sales, accounting for 9.4% of all U.S. e-commerce sales and an estimated 15-20% of sales for companies that leverage affiliate marketing strategies.
Get detailed breakdowns by industry sector, return on ad spend (ROAS) analysis, advertiser and publisher insights, and publisher sentiment.
- Explosive growth – 49.8% in just three years
- How the industry is expanding beyond Retail
- Publisher types attracting more investment
- Google moves keeping publishers up at night
Get your free copy now.