GroupM expects global advertising revenue to grow by 9.5% in 2024, surpassing USD 1 trillion for the first time
GroupM expects global advertising revenue to grow by 9.5% in 2024, surpassing USD 1 trillion for the first time, primarily driven by digital platforms. It is anticipated that Google, Meta, ByteDance, Amazon, and Alibaba will account for more than half of the revenue. Digital advertising will continue to outperform other media, expected to account for 76.8% of total advertising revenue by 2029. Meanwhile, global television advertising revenue is projected to grow by 1.9% in 2025, outdoor advertising by 7.1%, while print advertising is expected to decline by 3%
Reuters London, December 9 - According to GroupM, the world's largest media buyer under WPP (WPP.L), global advertising revenue is expected to grow by 9.5% in 2024, surpassing $1 trillion for the first time, with a growth of 7.7% projected for next year.
Why it matters
The continued growth of the advertising industry, driven by digital platforms, has defied expectations of a slowdown. GroupM stated in its "2024 Global Year-End Forecast" that the growth rate will accelerate again in 2024, and it will maintain a faster growth rate than previously predicted through 2029.
Who benefits?
GroupM indicated that Google, Meta, ByteDance, Amazon, and Alibaba are expected to capture more than half of the revenue.
Political advertising
Due to the significant distortion effects of U.S. political advertising, this forecast excludes U.S. political ads.
Media fragmentation
Digital advertising is the largest segment, expected to grow by 10.0% by 2025, accounting for 72.9% of total advertising spend. The report states that digital advertising will continue to outperform other media, reaching 76.8% of overall advertising revenue by 2029.
The report states that global television advertising revenue will grow by 1.9% in 2025, reaching $169.1 billion, with linear television advertising accounting for 72.6%.
GroupM predicts that outdoor advertising will grow by 7.1% in 2025, while audio advertising is expected to remain roughly flat, and print advertising is expected to decline by 3%
