The global advertising industry will grow 9.5% to top $1 trillion in total revenue for the first time this year — excluding political advertising from the U.S. — and grow another 7.7% in 2025 to exceed $1.1 trillion.
That’s according to WPP media investment group GroupM’s End-of-Year Global Advertising Forecast for 2024. The new report, outlined in a news release, analyzes ad investments over the last year and shares expectations for next year.
Pure-play digital advertising, estimated to expand 12.4% this year, is still the strongest channel and is estimated to make up 72.9% of total advertising in 2025, GroupM says. GroupM also sees the continued rise of retail media continues within digital advertising. That segment is estimated to hit $177.1 billion globally next year, when it will surpass total TV revenue (including streaming) for the first time.
Out-of-home (OOH) advertising has been bolstered by the strength of digital counterpart (DOOH), expected to make up for 42% of total OOH revenue in 2025. Global audio revenue will stay largely flat in 2025 whereas print advertising faces further declines, largely due to increasing digitization and the influence of AI.
The report says all top ten ad markets are forecast for growth in 2024, with the U.S. and China the two largest. Total U.S. ad revenue expected to jump 9% to $400.2 billion, and China is forecast to grow 13.5% to $204.5 billion. The UK remains in third, ahead of Japan. Then it’s Germany, France, Canada, Brazil, India and Australia.
GroupM is responsible for more than $60 billion in annual media investment, as measured by the independent research bureau COMvergence.
Comments