Today, we’re going to talk about the global advertising market and some wild predictions for the upcoming years. Get ready for a fun journey into the world of numbers and marketing strategies.
So, according to the smart folks at GroupM, the global advertising is booming this year with a 5.8% increase. That’s a lot of money, reaching around $889 billion! But hold on, because in 2024, it seems like there will be a more relaxed party with a 5.3% gain. That’s if we don’t count the expenses for the U.S. presidential campaign. Yeah, politics always spices things up.
Speaking of politics, folks are going to spend a fortune on political ads, around $15.9 billion in 2024! Everyone’s keeping an eye on the elections. In the U.S., ad revenue is going to grow by about 5.7% in 2023, but in 2024, the forecast is to drop to 4.1%, excluding political spending, of course.
China is also in the game, with a growth of 6.1% this year, but in 2024, it will slow down a bit with a gain of 4.7%. Yeah, the economy sometimes does a little dance.
But the rival Magna has some other crazy predictions! They believe media owners will rake in around $853 billion in 2023, with a 5.5% increase. And in 2024, the forecast is that this number will rise to 7.2%. And guess who’s dominating the scene? Digital platforms like Google and Meta are putting pressure on traditional media, such as TV. It’s the future, folks!
In fact, almost 70% of global advertising money goes to digital platforms now, and the forecast is that this number will reach 75.5% by 2028. Yeah, the digital age is in full swing. The giants like Google, Meta, Bytedance, Alibaba, and Amazon are using artificial intelligence and taking over the world! They’ve been growing at about 25.4% per year from 2016 to 2024. Meanwhile, traditional media is lagging behind with a meager growth of 0.6%.
So, folks, that’s it! TikTok and YouTube are at the top of the advertising game, and the U.S. and China continue to dominate the global advertising money. It seems like linear TV is taking a dip, but connected TV is booming, with an expected 9.5% increase in 2023, reaching around $29.2 billion in advertising revenue.
That’s it, folks! Advertising is always reinventing itself, and the digital era is here to stay. If you enjoyed this laid-back chat about the advertising market, give us a thumbs up, subscribe to the channel, and hit the bell to receive more interesting content. And don’t forget to share it with your friends because knowledge is for everyone! Until next time!
