Forecast: 9.5% growth in 2024 ad revenue
December 10, 2024
GroupM, WPP’s media investment group, has revealed the topline findings of its End-of-Year Global Advertising Forecast for 2024. The report, which analyses advertising investments over the last 12 months and shares projections for 2025 and beyond, finds that strong performance of the largest sellers of advertising and increased digital expansion have propelled growth in global advertising investment to 9.5 per cent this year. The industry will surpass $1 trillion in total revenue for the first time in 2024 (excluding US political advertising) and grow another 7.7 per cent in 2025 to reach $1.1 trillion.
Pure-play digital advertising remains the strongest channel and is estimated to grow 12.4 per cent globally in 2024 and make up 72.9 per cent of total advertising in 2025. Retail media continues to emerge as a rapidly expanding segment within digital advertising, estimated to reach $177.1 billion globally in 2025, surpassing total TV revenue, including streaming, for the first time.
Out-of-home (OOH) advertising has maintained its share of the global advertising industry, largely due to the strong performance of its digital counterpart, DOOH, which is predicted to account for 42 per cent of total OOH revenue in 2025. Global audio revenue will remain largely flat in 2025 whereas print advertising faces further declines, largely due to increasing digitisation and the influence of AI.
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