Forecast: Global ad spend to grow faster in 2024
February 7, 2024
Insider Intelligence forecasts that worldwide spending in digital, traditional, and total media ad spending will all grow faster in 2024 than they did in 2023 (when growth amounted to 0.5 per cent YoY).
“After two years of relative malaise, the outlook is very positive on a global scale and in every major region,” commented Insider Intelligence’s Ethan Cramer-Flood of the 9.7 per cent total worldwide ad spending growth, the fastest Insider Intelligence has forecast since it began tracking in 2011 (besides 2021’s pandemic-rebounding spike).
Traditional ad spending will get a boost from the Summer Olympics, political advertising, and “better macroeconomic conditions,” while digital ad spending will make up 70 per cent of worldwide spending this year and almost three-quarters of spending by 2027.
“Because of that huge share figure, the metrics for total media advertising now largely mirror the metrics for digital,” added Cramer-Flood added.
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