A new report by Morgan Stanley Research provides an overview of the current landscape for digital advertising. According to the report, surging mobile inventory and programmatic buying produced weak display advertising numbers during Q1.

While analysts see pockets of strength in the digital advertising pace, they also see room for downside to the high consensus expectations for the second half of 2015.

Areas Of Strength

According to the report, national TV advertising grew 1.0 percent year-over-year in Q1, beating expectations. Analysts estimate that Google Inc GOOG 0.11% GOOGL 0.14%‘s YouTube advertising also exceeded expectations, producing about 40 percent year-over-year growth.

Areas Of Weakness

Online advertising was particularly weak in Q1, with 63 percent of…

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