Home industry media-and-entertainment a report says global advertising will grow by 8.4% in 2022
Media And Entertainment
CIO Bulletin
2022-06-13
The global advertising industry is predicted to grow 8.4% this year, in spite of fears of a recession and ongoing geopolitical situations around the world, a report on the sector said.
The projected growth excludes the impact of US political advertising, which is on the path to reach $13 billion in revenue this year, up from $12 billion in 2020, the advertisement agency GroupM showed.
The advertising sector, which usually tracks the broader health of economies, is settling after experiencing highs in 2021 when it was boosted by personal consumption and robust economic recovery.
The sources of growth for the advertising sector in 2022 include increasing numbers of new small businesses, which are likely to advertise at higher levels than the business they are replacing; China-based marketers advertising abroad; and venture-funded advertisers seeking growth, the report revealed. The expected deceleration of e-commerce and interest rate hikes will drag on growth.
The report predicts ad revenue for pure-play digital platforms to jump 11.%% in 2022, down from 32% growth in 2021. Digital advertising on those platforms will represent 67% of the industry’s total revenue for 2021.
Television (TV) advertising is forecast to grow 4.4% in 2022, boosted by ad-supported streaming services such as Fox Corp-owned Tubi and Paramount Global-owned Pluto.
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