Global Ad Spending to Top $628 Billion in 2018
Are you ready to get slammed with even more advertising? You need to be, according to new research released Monday from eMarketer. The firm forecasts global advertising spending will total $628.63 billion this year, with nearly 71% of that spend targeting Asia-Pacific and North American consumers.
Year over year, spending is expected to rise by 7.4%, partly due to the 2018 World Cup tournament this summer. Through 2022 eMarketer expects spending to rise at a steady pace of more than 5% annually.
Spending on digital advertising is forecast to account for 43.5% of all spending, which eMarketer attributes to rising global e-commerce spending and shifting viewership from traditional TV to digital channels. The firm forecasts that digital spending will be near 50% of total spending in 2020 and top 52% in 2021.
Spending on mobile advertising will account for two-thirds of spending on digital advertising this year and just over 29% of all ad spending.
North America remains the top advertising market this year with total spending of $232.48 billion, 37% of global media spending.
Asia-Pacific will account for about a third of global spending with a total of $210.43 billion this year.
eMarketer noted its earlier forecast that Asia-Pacific advertising spending would top North American spending by 2019 and now says that will not happen because of stronger-than-expected North American spending growth in 2017 and a falling U.S. dollar.
That does not, however, alter the fact that Asia-Pacific ad spending will pass North American spending. The new forecast calls for the switch to occur in 2022.