Global ad spending is set to reach approximately $960 billion this year and is anticipated to surpass the $1 trillion threshold next year, according to a report by WARC.
Here is a breakdown by medium from Marketing Charts:
Based on WARC’s extensive survey and study, the prominent companies – Alibaba, Alphabet, Amazon, Bytedance, and Meta – are projected to account for 50.7% of the global ad spend this year.
Their combined market share is expected to rise to 51.9% in 2024.
Alphabet leads the pack, accounting for a significant one-quarter of the global ad spend. Meta follows, with a 13.5% share, up from 12.3% the previous year and forecasted to reach 14% by next year.
Meanwhile, Amazon’s retail media business is on an upward trajectory, with projections indicating a share of 4.7% this year and 5% in the subsequent year.
In terms of mediums, pure-play internet is expected to account for 66.4% of the total ad spend this year, and this percentage is forecasted to increase to 67.7% in 2024.
Influencers are bundled under the ‘pure-play internet’ segment and not singled out in this report but investment in their content is expected to continue to rise in line with these larger trends.
Social media is projected to represent a 20.9% share globally, and linear TV’s share is anticipated to decline from 18% last year to 16.3% this year.
Additionally, premium video is projected to represent 19.4% of global ad spending.
Traditional mediums, such as out-of-home and publishing, are hovering around the 5% range, and audio (encompassing radio and online audio) is anticipated to settle at 3.7% this year, with a possible decrease the following year.
We encourage you to check out the complete WARC report for a comprehensive understanding. In the evolving landscape of advertising, staying updated is crucial.
At The Influence Marketer, we’re your steadfast guides on this exciting journey.
Stay tuned as we continue to explore, analyze, and provide insights into the ever-evolving world of digital marketing, especially influencer marketing.
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