This piece spotlights global advertising reports from GroupM and Zenith.
Both the reports suggest strong growth globally in the advertising sector as the world steps into a new year. According to GroupM, the final 2021 growth projections shows 22.5% growth, up from 19.2% previously. Digital, audio, newspapers and magazine, cinema and out-of-home media would account for $766 billion in ad revenue in 2021 and around $1 trillion in 2025. Additionally, digital ads will account for 64.4% of global advertising in 2021, up from 60.5% in 2020.
According to Zenith, global ad spend growth in 2021 is expected to grow by 15.6% to $705 billion, up from $634 billion in 2019. It further predicts that ad spend globally will reach $873 billion by 2024 with a 5.7% growth in 2023 and 7.4% growth in 2024.
[7 minute read]