Advertising boom: revenues will exceed $1 trillion, and tech giants will get more than half of it
9 December 13:05
The global advertising industry will reach a record level of revenue for the first time, exceeding $1 trillion in 2024. The lion’s share of these funds, namely more than half, will be earned by tech giants Google, Meta, ByteDance, Amazon, and Alibaba. This is stated in the report of the GroupM media agency, according to Komersant ukrainskyi citing the Financial Times.
GroupM predicts that global advertising revenues will grow by 9.5% in 2024, despite economic instability in key markets such as the United States and the United Kingdom. The market is expected to expand by another 7.7% in 2025. The bulk of this growth will come from the leading digital advertising vendors in the US, while traditional marketing services, such as advertising agencies, will play a less significant role.
At the same time, the forecast does not take into account the impact of political advertising in the United States, which the agency did not analyze due to its significant impact during election years. In 2024, political advertising revenues in the United States will add $15.1 billion to the total, a third more than in 2020, when the previous presidential election took place.
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The share of digital advertising in global revenue is expected to grow to 73% in 2025, an increase of 12.4%. This figure will reach 82% if revenues from streaming platforms, digital newspapers and magazines are taken into account.
Traditional channels such as television, print media and radio continue to lose ground. In particular, print advertising revenues will decline by 4.5% in 2024 and by another 3% in 2025. Audio advertising will remain stable, while the television segment is projected to grow by only 2.4% by 2029.
In China, advertising revenues are expected to grow significantly – by 13.5%, reaching $204.5 billion in 2024. In the UK, the growth in 2024 is estimated at 8.3%.
Thus, the global advertising industry is changing rapidly, confirming the dominance of digital technologies that are replacing traditional formats.
