Report: Global advertising to grow by 8.4% this year, but economic fears may slow the pace

Author: Nishu June 13, 2022

Report: Global advertising to grow by 8.4% this year, but economic fears may slow the pace

According to a GroupM report, ad revenue growth for the pure-play digital platform could exceed 11%, but still fall short of last year’s growth rate

According to a GroupM report, ad revenue growth for the pure-play digital platform could exceed 11%, but still fall short of last year’s growth rate

The global advertising industry is expected to grow by 8.4% this year, despite the ongoing geopolitical conditions around the world and fears of a recession, said a sector report on Monday.

The figure excludes the impact of US political advertising, which is on track to reach $13 billion in revenue this year, up from $12 billion in 2020, a unit of WPP PLC, showed the report by advertising agency GroupM.

The advertising market, which generally tracks the broad health of economies, is settling after experiencing a high in 2021, when it was boosted by strong economic recovery and personal consumption.

Sources of growth in 2022 include a growing number of new small businesses that are likely to advertise at a higher level than the business they are replacing; Venture-funded “new economy” advertisers are seeking growth; And Chinese-based marketers advertise overseas, the report showed. Expected slowdown in e-commerce and hike in interest rates will impact growth.

“Although the overall economy and environment is more negative now than in December, broadly speaking, people in our industry and I think many pundits are highly negative relative to the reality of how the overall economy is faring,” said Brian Weiser. Told. Chairman of Business Intelligence at GroupM in a call with reporters.

The report estimates that advertising revenue for pure-play digital platforms will grow by 11.5% in 2022, down from 32% growth in 2021. Digital advertising on those platforms will represent 67% of the industry’s total revenue this year, which does not include US political advertising.

Television advertising is expected to grow 4.4% in 2022, fueled by ad-supported streaming services such as Pluto, owned by Paramount Global and Tubi, owned by Fox Corp. Broadly speaking, TV advertising growth is poised to flatten over the next five years. According to the report, for many marketers, Alphabet-owned YouTube will “increasingly look like an alternative to television”.

13 June, 2022, 5:48 pm

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Monday, 13th June 2022

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