PwC Report: Global Ad Revenue Expected To Hit $1 Trillion In 2026.

Global advertising revenue is projected to reach the $1 trillion mark in 2016, and to account for 55% of total entertainment and media industry revenue growth over the next five years — doubling that of 2020, by 2028 — according to a forecast in PwC’s just-released Global Entertainment & Media Outlook 2024-28 report.

The forecast, covering 11 revenue segments across 53 countries and territories, expects global ad revenue to grow at a 6.7% compound annual growth rate through 2028, ahead of the other two broad entertainment and media segments analyzed by PwC, connectivity (2.9%), and consumer (2.2%). Central to PwC’s estimate is internet advertising, which grew 10.1% in 2023, adding $52.5 billion, with continued growth through 2028, when it will account for 77.1% of total ad spend.

Overall, the report says, global entertainment and media industry revenues increased 5% to $2.8 trillion in 2023, projected to hit $3.4 trillion in 2028. The U.S. remains the world’s largest consumer spending and advertising market, representing more than one-third of global spending last year.

PwC’s report also focuses on the slowing growth rate of streaming services, due to increased competition and challenges in consumer use and uptake, and the fast-growing gaming market, with revenue expected to hit $300 billion by 2028.