The global advertising market is experiencing significant growth, thanks in part to the dominance of the technology sector.
Global advertising industry revenues will top $1 trillion for the first time by 2024, with tech giants like Google, Meta and Alibaba accounting for more than half of it. The Financial Times writes about it.
GroupM forecasts that global advertising revenue will increase by 9.5% in 2024, more than expected in the middle of the year.
The global advertising market is experiencing significant growth, thanks in part to the dominance of the technology sector.
Digital advertising will account for 73% of revenue, leaving behind traditional channels such as print and radio.
Revenues are expected to grow 9.5% by 2024, reaching more than $1 trillion. The biggest growth will come from digital formats, which will account for 73% of total revenue, leaving behind TV, print and radio.
Traditional advertising channels such as television, print and radio are giving way to digital formats. Global print advertising revenues will decline by 4.5% in 2024 and a further 3% in 2025. Audio ad revenue will remain flat next year, while TV, including linear broadcast and streaming content, will grow at CAGR which is only 2.4% from 2024 to 2029.
The US remains the leader with a projected revenue of $379 billion by 2025.
In China, total advertising revenue will increase by 13.5% in 2024 to $204.5 billion The UK, Europe’s largest advertising market, with revenues of $53.2 billion in 2024, is expected to grow by 8.3%.
Let’s remember that at the beginning of December 2023, the price of gold exceeded $2,100 per ounce for the first time in history. At the time, analysts predicted that the price of the precious metal could remain above $2,000 per ounce in 2024. Earlier in October, the price of gold had reached new highs.
Source: korrespondent
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