Posted on by Raihan Hadi
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2021 adspend growth to hit four-decade high: Warc forecast
03 Dec
Global advertising market to see record growth of 23.8% to $771 billion this year and hit $1 trillion in 2025.
Advertising spending for 2021 is on track to hit $771 billion, according to Warc, which also reports that this is the largest increase (23.8%) it has recorded in four decades of monitoring.
Spending is forecast to rise by a further 12.5% and 8.3% in 2022 and 2023, respectively, Looking further ahead, adspend is on course to reach $1 trillion in 2025.
However, three companies—Meta, Alphabet and Amazon—will absorb more than half of that.
A few other highlights from Warc’s Global Advertising Trends report, available to Warc members (a sample is available here):
In 2023 the ecommerce sector will double more than double 2020’s level of spending to reach a total of $137.2 billion.
Social media was the fastest-growing online sector in 2021, with spend rising 41.9% to $188.8 billion.
Alphabet is the world’s largest media owner and Google the largest individual platform: its advertising revenue will rise by 40.6% to $146.3 billion this year, taking 79.7% of all search spend and 19.0% of all advertising spend worldwide.
Google’s growth is set to ease to 14.8% in 2022, though 57% of practitioners surveyed by Warc are planning to increase spend on the platform next year.
Advertising spend on online audio rose by a third to $5.4 billion in 2021, with podcast spend up 50.9% and streaming up 28.4%.
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After 20 years of evolving technology, shifting market trends, and adapting to changing consumer behaviour, the media landscape has nearly reached saturation.
We’ve optimised to the fullest, providing advertisers with abundant choices across technology, platforms, data-driven marketing, CTV, OTT, DOOH, influencer marketing, retail, etc.
Media specialists have diversified, but with more options comes the challenge of maintaining income growth. The industry is expanding, but revenue isn’t keeping pace.
Now, we’re at a TURNING POINT: time to explore and harness new sustainable revenue streams. While GroupM forecasts a 7.8% global ad revenue growth in 2024, challenges like antitrust regulation, AI and copyright issues, and platform bans persist.
Collaboration is key: partnerships that thrive on synergy, shared values, and aligned goals are becoming increasingly essential.
Hence, the Malaysian Media Conference, in its 20th year, has assembled the partners and players under one roof on October 25 for a day of learning, sharing, and exploring.
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