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Digital advertising pushes global ad spend to new heights

Digital advertising pushes global ad spend to new heights

Digital advertising will account for over 60% of global ad spend in 2022, according to the latest advertising expenditure forecast compiled by Zenith.

Advertising extends global winning streak :

  • The report reveals broad-based positivity prior to Omicron rearing its ugly head as the global advertising market extends its recovery from its 2020 nadir, with healthy growth of 15.6% recorded for 2021 expected to drop back to 9.1% in 2022.
  • Squinting deep into Zenith’s crystal ball, global ad spend is then likely to moderate further to 5.7% in 2023, before resuming an upward tack in 2024 where growth of 7.4% has been tentatively projected – although this does not factor in the impact of any further disruptive Covid-19 variants.
  • The global spending spree is being fueled by brands eager to capitalize on burgeoning social media, online video, connected TV (CTV) and e-commerce channels, which will collectively lift digital’s share of global ad spend above 60% for the first time next year, sitting pretty on 61.5%.
  • On this timeline Zenith expects global ad spend to hit $705bn in 2021, way above its pre-pandemic peak of $634bn in 2019, before rising further to $873bn in 2024 without catching a breath.

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