Author: Jazmin Brooks

Published on The Drum

One month on from Cannes and ahead of the Olympic Games Paris 2024, we recap what got leaders at Uber Advertising, State Farm, Bain, Magna, Fox and more, talking about the power of live TV on FreeWheel Beach.

From big games in sport to big names in entertainment, 2024 is live TV’s moment. The Super Bowl LVIII drew an estimated 123.4 million audience across TV and streaming – making it the most-watched live TV show in history, while the Grammy Awards attracted over 17 million viewers, with 173% more streams than last year.

While television has evolved over the past decade, one pattern remains the same: the appetite for live events. But when it’s only live once, milliseconds matter. How can advertisers make the most of this moment of emotional engagement?

In a new video series, #YOLO (You’re Only LIVE Once), we gathered key players from the buy- and sell-sides of the TV ecosystem, including Uber Advertising, State Farm, Bain, Magna and Fox, on the FreeWheel Beach in Cannes to get their take in the moment on the challenges and opportunities with live as TV consumption shifts from linear to streaming.

High attention, high precision
Technology and data advancements are changing the live TV industry – combining mass scale and moments of emotional engagement with the precision of addressable TV, giving advertisers of all sizes more opportunities to connect in the highest attention environment.

“Live TV can still be about big brand moments at mass scale – and that continues to have great value,” says Pooja Midha, general manager, Effectv. “But it can also now be about bringing precision into the equation through the advancement of our ability to apply data insights in that environment to reach an audience inside an incredibly emotional event.”

NBCUniversal and Comcast Advertising, for example, have created the opportunity for brands to be promoted alongside NBC’s coverage of Olympic Games Paris 2024 programmatically on Xfinity platforms – the first time brands can be featured throughout the user interfaces on Xfinity X1, Xfinity’s Xumo Stream Box, and Xfinity Flex.

“Advertising in live TV is changing dramatically because something new is happening; it’s addressability,” adds Philippe Boscher, head of digital marketing at TF1 Publicitéon. “Live addressable and linear addressable means that now you can combine the power of live TV with the capability to target niche targeting, geo localization data targeting.”

Social connections
Beyond the record viewership that live events draw, the enduring appeal of live TV is its ability to create communal experiences and deliver real-time content. A report from FreeWheel, It’s Only Live Once: How TV Advertisers Can Capture Audiences in the Moment, finds that live events are 17% more likely to be viewed by multiple people together versus other programs; 54% of sports viewers often watching live with others.

Research from Bain & Company also found that 51% of consumers who are streaming content are looking at social media at the same time. That’s why it’s important to think about “how to connect moments from what’s happening on the screen through live and connected TV into social interactions in the same moment,” says Jeff Katzin, partner, Bain & Company. “There’s an explosion in appetite for real and authentic experiences. Consumers are really looking for opportunities to have a shared moment or connect with others – and that’s something the power of live can do better or as well as anything that exists out there.”

The live experience doesn’t just happen on the big screen – but on the journey to the live event. “Consumers want to watch what they want to watch when they want to watch it,” says Megan Ramm, global director, head of CPG partnerships at Uber Advertising. “The on-demand nature of people’s desire for personalization and creating experiences that they want for viewing and the choices that they have is presenting unique opportunities to connect with them when they’re in a positive mindset, attentive and receptive to wanting to receive those messages.”

Interacting in the moment
While it’s clear that consumption habits are changing, the real benefit for brands is to reach new audiences and attract younger generations through alignment with live TV.

“Live programming is still very important to us, especially around sports; it’s where the eyeballs are, but it also gives us an opportunity to move at the pace of culture,” says Kristyn Cook, executive vice-president and chief agency, sales and marketing officer at State Farm. “We all recognize that consumption habits are changing – they want to consume content anywhere, anytime across any screen that they want, so it’s important to have a very cohesive, comprehensive approach to both live TV and streaming.”

But the fundamentals remain the same: to deliver the best viewing experience. “It’s a different relationship, different consumption that’s much more forward than laid back,” says Thomas Bremond, chief revenue officer, international, FreeWheel. “My kids don’t even know what changing the channel means, they don’t know the technical infrastructure, but they know that the experience has to be seamless and perfect.”

With this scale, the opportunities are for brands are endless – offering more interactivity than before. “The fact that live programming is living on these new platforms brings the opportunity for innovative ad units like interactive and shoppable, and first-party data to connect and target audiences in a different way to move down the funnel quicker,” says Dani Benowitz, US and global president at Magna.

“We talk to our clients a lot about the power of live and migrating dollars that may have been slated for general entertainment, to keep moving to sports and live events because of the watercooler moments and the leaned in engagement from consumers.”

Engineering challenges
As record amounts of viewers tune in to their favorite live events, advertisers have the opportunity and responsibility to provide an enjoyable viewing experience.

“At any one time a single piece of content, including live events, can be consumed on more than 400 different endpoints,” explains Mark McKee, general manager, FreeWheel. “It makes it very hard for programmers and very complex for buyers. Within live events, milliseconds matter and so having the most direct connection is the most powerful way in which to engage with a consumer.”

That’s why FreeWheel unveiled a new suite of live product capabilities in Cannes, to better enable programmatic transactions to take place across some of the largest live events on streaming platforms – include the Olympic Games Paris 2024.

“From a creative and production perspective, we look at all the different canvases that we distribute sports to – from connected TVs to broadcast to cable, through to mobile and web, and we think differently about those canvases and what we can do with them,” adds Paul Cheesbrough, chief executive officer of Tubi Media Group, a business of Fox Corporation. “Technically, it’s a very challenging thing to plan for [streaming major live events like the Super Bowl] and why we work with companies like FreeWheel to deliver very low latency, high-quality streams.”

The recent partnership between FreeWheel and Fox Corporation, for example, sees FreeWheel programmatically enable Tubi, and the entire One Fox portfolio, by serving the company’s primary monetization engine, and includes a proprietary integration with Fox’s AdRise to further drive scale, access and a more simplified path to premium video ad inventory.

As the industry continues to innovate, it’s clear that it’s live TV’s moment as a powerful medium for advertisers to connect with audiences in meaningful and memorable ways. Whether through sports, entertainment, or special events, its ability to bring people together and create shared experiences will ensure its relevance in the ever-evolving media landscape.

Watch the full video ‘#YOLO (You’re Only Live Once)’ for more insights.

Read the Article on The Drum

 

Published on Digiday

Cryptocurrency brands have begun to slowly increase their marketing activity in recent months.

But the level of spending from the sector is still far off the highs seen in 2022 when big-name exchanges shelled out for Super Bowl campaigns starring major celebrities.

Faced with a publicity washback from the FTX fraud trials, which concluded in November, and a “crypto winter” between 2021 and the end of 2023, most crypto marketers eased off on advertising activity last year. With the price of Bitcoin and ether rising (if inconsistently) once more, those same marketers are now considering how to handle the next potential boom period.

In the first six months of 2024, Coinbase has quietly increased global advertising spending amid a sector-wide effort to change public perceptions of the technology. In the first quarter of this year, the exchange invested $99 million in marketing and advertising, up $35 million from the same period in 2023.

But that’s less than half of what the company laid down in Q1 of 2022, when it spent $200 million on advertising (and $510 million across the entire year). And according to Magna, the media investment and intelligence unit of IPG Mediabrands, crypto ad spend in the U.S. totaled just $40 million in the first half of 2024, down from $160 million in H1 2022.

In part, that decline reflects the absence of high-spending FTX, the company led by Sam Bankman-Fried, as well as other crypto brands that went bankrupt in 2022. Though the November fraud conviction of Bankman-Fried and the fall into bankruptcy of what had been the second-largest crypto exchange in the world, damaged public perceptions of the business at large, CMOs in the sector told Digiday it also represented an chance to change the narrative.

“I think it would be kind of foolish to assume that didn’t color some people’s perspectives. Frankly, I also think it’s been a real opportunity for us to double down and communicate our differentiated value proposition,” said Kate Rouch, chief marketing officer at Coinbase.

Spring through early summer, the brand launched a campaign touting its ability to help consumers get a fairer shake from their financial providers. “This commercial isn’t about pizza” represented a $15 million investment, including media and production, a Coinbase spokesperson confirmed.

Even without that factor holding back crypto ad investments, Luke Stillman, evp market insights, demand and strategic innovation at Magna, told Digiday that crypto advertising spend was unlikely to “match the exuberant levels of 2022” in the near future.

The previous surge of crypto ad spend followed 2021’s historic highs for the cryptocurrencies – and ended with the market’s crash the next year. With crypto prices now on the rise once more (the price of bitcoin in Q1 of 2024 was higher than it was in 2021), exchange brands say they’re looking to ramp up activity in the near future.

Stillman said in an email that “the recent increase in cryptocurrency prices is expected to boost ad budgets in the second half of 2024 and beyond. This will first lead to more investment in social media and digital video advertising before brands expand their efforts to other channels [such as television] (so long as crypto prices remain strong).”

Until cryptocurrency prices begin to rise at a stable rate, it’s unlikely crypto brands are going to unleash huge media budgets as in previous years. “We want to take advantage of market conditions that allow us to spend more like any company would,” said Rouch.

Marc Vanlerberghe, the recently appointed CMO of Algorand, a non-profit that promotes the use of cryptocurrency and blockchain technologies, told Digiday that a coming “crypto spring” would provide a major window for the sector.

“Coming out of this crypto winter and going into crypto spring and potentially summer, I think that there is a really big opportunity to get the message out about the advantages of blockchains,” he said.

When these companies do decide to begin increasing spending, they’re unlikely to use the same channels as in 2022. Crypto advertisers have largely turned away from television spending and towards social and digital video, said Stillman. Sponsorships and commercial partnerships with sports clubs and cultural institutions have also been adopted as part of the crypto marketing toolkit.

Binance, for example, maintains brand partnerships with soccer star Cristiano Ronaldo and influencer Khaby Lame, as well as sponsoring soccer teams S.S. Lazio, Santos FC and Porto FC and the Alpine F1 team.

“We see sports and entertainment fans as a way to grow mass adoption, to grow awareness and credibility,” said Sarah Dale, head of global brand partnerships and entertainment for the exchange. “It helps educate people, inform people, to bring them into the ecosystem so that they can be part of this journey,” she added.

Dale declined to say how much the company spends on its partnerships, or what proportion of its overall marketing budget they represent. She said that as cryptocurrency values rise and consumers look again at the sector, it expects to both add further partnerships and increase its marketing investments.

“We will grow our portfolio,” Dale said.

OKX maintains sponsorship deals with Manchester City FC, the McLaren F1 racing team, and the Tribeca Film Festival. Meanwhile, crypto exchange Kraken has been a sponsor of the Williams F1 team since last year, and this week signed a shirt sleeve sponsorship with La Liga soccer team Atlético de Madrid.

“It’s better to activate partnerships over a long period of time than just simply buying media,” argued Haider Rafique, CMO of OKX. “We don’t want to buy media, we want to be reliant on organic reach.”

Investments in sponsorships aren’t tracked by industry observers like Magna, and often aren’t made public, meaning at least some of the sector’s marketing investments are hidden from view.

Rafique estimated that OKX has spent $100 million on partnerships each year for the last three years. “Now that I’ve deployed $100 million a year on these partnerships over a period of time and learned … I’m more confident that media sucks, and it’s not the best value for your dollars.”

The above-the-line work they are putting into play is also more focused than the campaigns which made up the infamous “crypto bowl” at Super Bowl LVI.

Coinbase, for example, has been running a campaign targeting Mexican consumers inside the U.S., presenting itself as a viable way of transferring cash to family members across the southern border.

“It’s building on a theme of work that we’ve had really for the last couple of years, which is around crypto moving money forward,” said Rouch. The campaign cost Coinbase $2 million, including production and media spend, and ran on Univision’s Spanish-language coverage of the Copa America soccer tournament.

Mayur Gupta, CMO of Kraken, told Digiday that as the price of Bitcoin dropped during the last bear market, some of the new customers it had picked up during the preceding boom period melted away, though he declined to share the firm’s customer turnover rate.

Going forward, he said the company was conducting more consumer research to better understand how to communicate with consumer that might engage with its products for reasons other than “wealth building”.

“When you bring people in for the right reasons, they will stay on with you,” he said. It’s a consistent theme among crypto marketers, who want to attract users and traders that will stick around through market volatility.

“We’re not a get rich quick scheme,” said Rafique.

Read the Article on Digiday

 

Published on The Drum

Uber is welcoming programmatic media buying to its in-app ads platform for the first time.

Uber Advertising is enabling programmatic media buying across the Uber Rides app as part of an expansion of its Journey Ads platform, the company announced Tuesday.

Journey Ads, debuted in 2022, is Uber’s proprietary advertising platform, embedded within the Uber Rides app, offering display and video ads paired with demographics-based and behavioral targeting, as well as campaign performance measurement.

To bring programmatic buying to life within Uber Rides, the ride-hailing company is working with Google’s Ad Manager as well as a slew of leading demand side platforms (DSPs), including Google’s Display & Video 360, The Trade Desk and Yahoo DSP. Through these partnerships, programmatic buyers in the US and in global markets can now buy inventory within the Uber Rides app using their preferred DSP.

Google Ad Manager director of product management Peentoo Patel said in a statement that he believes Journey Ads “provides a new and engaging ad experience for people.”

“Journey Ads have proven strength in driving results for the thousands of brands we’ve worked with since launch. We can now extend these benefits to the programmatic buyers who prefer to activate through their DSPs of choice,” said Jillian Kranz, general manager of rider ads at Uber Advertising, in a statement on Tuesday.

Uber’s customer demographic, which is predominantly affluent and young, demonstrates relatively high openness to engaging with ads in general. A forthcoming Magna study finds that 80% of users said that ads catch their attention. Plus, leveraging historical first-party data from both Uber Rides and Uber Eats, Uber promises targeting of high-intent users, enabling advertisers to focus on specific audience segments – like Burger King superfans or Rihanna connoisseurs.

Stressing the effectiveness of Journey Ads, Kranz pointed to Kantar data indicating that early campaigns on the platform resulted in increased favorability and purchase intent. “We’ve shown the strength of the Journey Ads format through outstanding performance across the funnel,” she added.

Plus, to ensure the legitimacy of all ad buys and effectively measure their performance, Uber works with a handful of the ad industry’s leading measurement and research vendors, including Kantar, Integral Ad Science, DoubleVerify, LiveRamp, Attain, Comscore, Foursquare, iSpot, NCSolutions and AWS Clean Rooms.

The addition of programmatic buying is welcome news to some of the industry’s top media buyers. “We have seen tremendous value in partnering with Uber around their mobility ads offering thanks to their one-of-a-kind insights and targeting ability,” said Megan Pagliuca, chief activation officer at Omnicom Media Group, in a statement. “Activating our Omni audiences on Journey Ads through programmatic channels is a big step forward for the partnership to achieve significant outcomes for our clients.”

Read the Article on The Drum

 

Read the “Inside a Rideshare” Study

Published on The Media Leader

The UK registered the highest growth rate among key markets in Magna’s Global Ad Forecast.

The UK has recorded “stronger than expected” growth so far this year of 12.2%. This was followed by Japan (11.8%), and France (11.2%).

On a full-year basis, Magna is forecasting the total UK ad market will surpass £40bn for the first time this year.

The majority of the growth so far in 2024 has been driven by digital pure players, inclusive of search, retail media, short-form video and social media (+21%). In comparison, traditional media owners (e.g., TV, radio, publishing, out-of-home and cinema) grew at a more modest rate of 4%.

A similar difference in growth between digital and traditional is projected for the full year. Digital pure players are forecast to improve ad revenues by 15% to £36.3bn compared to traditional players who are forecast to grow 1% to £7.5bn.

Traditional revenues are being driven by an acceleration in ad-supported streaming. In addition, during the summer period the UEFA Euro Championship is considered “a minor booster” to adspend while the snap general election is causing a “minor headwind“.

Digital ad revenues are seeing a boost by the rapid adoption of short-form vertical videos, as well as “huge spending” from direct-to-consumer brands and new international ecommerce platforms targeting European consumers “aggressively.”

Magna predicted that automotive, drinks, finance, telecoms, and betting brands would be “the most dynamic spender[s]” in 2024, with all experiencing double-digit adspend growth in the first four months of the year.

The report found that Europe “has been particularly strong to date in 2024” and was expected to “show strength” throughout the year following slower growth in 2023. This has been attributed to a combination of a rebounding macroeconomic environment and the reacceleration of spend in digital media formats.

“Strong growth figures are all the more encouraging for their broad base, with growth seen across most sectors of the market,” Richard Oliver, MD, Magna UK&I said.

“Innovation and investment by global and UK-based media channels is being rewarded by increased demand from domestic and global advertisers”.

Read the Article on The Media Leader

 

Learn More About the Global Ad Forecast, Summer 2024 Update

Published on Branding In Asia

The ad economy in the Asia Pacific is forecast to grow +8.5% in 2024 to reach $289 billion. This follows growth in 2023 of +9.5%.

MAGNA’s “Global Ad Forecast” has released its summer update and is predicting net advertising revenues (NAR) will reach $927 billion this year, growing +10.0% over 2023.

This forecast marks a significant acceleration in the +6.4% global growth recorded in 2023 said MAGNA. Neutralizing the impact of cyclical events in 2023 and 2024, the normalized acceleration is still real but more modest: non-cyclical ad revenues grew by +7.5% in 2023 and will grow by +8.7% in 2024.

The APAC outlook – 8.5% Growth

The advertising economy in Asia Pacific will grow by +8.5% in 2024 to reach $289 billion. This follows 2023 growth of +9.5% to reach $266 billion. This is taking place in a slightly slowing, but stable, economic environment where real GDP is expected to grow by +5.2% in 2024 according to the IMF. Inflation in APAC has continued to decline and while some economies are still seeing sustained price pressures, others are facing deflationary risks. Global disinflation and the prospect of monetary easing have increased the likelihood of a soft landing.

Overall APAC growth of +8.5% in 2024 consists of traditional media owners seeing +0.8% growth to reach $68 billion (24% of budgets), and digital pure player publishers seeing growth of +11.1% to reach $220 billion (76% of budgets). Television budgets are stabilizing in 2024 and are expected to be up by +0.2% following 2023’s -2.3% performance. This increase in growth is primarily driven by the tailwinds of sporting events – primarily the Paris Olympics. The UEFA Euro 2024 tournament and other sporting events typically have only a minor impact in APAC markets.

“The digital dominance in APAC is expected to persist, with digital revenues forecast to account for 81% of total budgets by 2028, up from 76% in 2024,” said Leigh Terry, CEO IPG Mediabrands APAC,.

“This shift underscores the growing importance of digital channels in reaching and engaging consumers in the region. Sri Lanka, India, and Japan are poised for significant growth in 2024, with mature markets in the region also showing signs of recovery, and contributing to the overall positive outlook for APAC.”

APAC net ad revenue growth 2023 & 2024

Key Takeaways

• The summer update of MAGNA’s “Global Ad Forecast” predicts that global media owners’ advertising revenues will reach $927 billion this year, growing by +10%.
• MAGNA is raising its 2024 growth forecast following a stronger-than-expected ad market in the first quarter (+12%) and an improvement in the economic outlook (real GDP growth +3.2%, APAC +5.2%).
• The advertising revenues of traditional media owners (TMO) – from the television, radio, publishing, and out-of-home media industries – are expected to grow to $272 billion, a +3% increase that represents a noticeable improvement compared to 2023 (-4%).
• TMO ad sales are driven by a record number of cyclical events and a +11% growth in TMO’s non-linear ad sales (e.g. ad-supported streaming +18%) that are now accounting for one quarter of total TMO ad revenues.
• The advertising sales of Digital Pure Players (DPP) will increase by +13% to reach $655 billion.
• DPP ad sales are boosted by increased competition in ecommerce, the rise of retail media networks ($146 billion this year), and better monetization of short vertical videos in video apps and social media apps.
• Keyword Search remains the largest digital ad format, growing by +12% to reach $330 billion this year. Social Media owners (e.g., Meta, TikTok) accelerate (+18% to $212bn), while short-form pure-play video platforms (e.g., YouTube, Twitch) grow by +14% to reach $78 billion.
• Among the most dynamic ad markets this year: Spain (+14%), India and the UK (both +12%), France and the US (both +11%). Germany and China are both experiencing economic difficulties and slower-than-average advertising spending (both +8%).
• The APAC ad market will grow by +8.5% this year to $289 billion. Traditional Media Owners ad sales will grow by +0.8% to $68 billion while DPP ad revenues will expand by +11.1% to $220 billion.
• Automotive and CPG/FMCG brands will be among the fastest-growing ad spending verticals this year, while Finance re-accelerates and Government expands due to the many elections taking place this year.

Busy year for cyclical events

2024 will be busy with cyclical events taking place, including four major sports tournaments (Paris Olympics, UEFA Euro 2024, Copa América hosted by the US, and the ICC T20 Cricket World Cup hosted by the US and the West Indies), and general elections in five major markets (Mexico, India, US, France, and the UK).

The first three elections take place in countries with little or no restrictions on political advertising, therefore moving the needle in terms of advertising sales.

Overall, the 2024 cyclical events will provide 1.3% extra growth to global ad revenues this year, 5% extra growth for television, 0.5% extra growth for digital media, and almost 2% extra growth for the US market alone.

“MAGNA was always expecting a strong ad market in the first quarter of 2024, due to a comp effect (1Q23 was extremely weak),” said MAGNA.

“Based on our analysis of media companies’ first-quarter financial reports, 1Q24 was even stronger than expected. Year-over-Year growth averaged +12% in key markets, +17% in Spain, +15% in France, and Germany.

It added: “Quarterly growth rates will gradually slow as comps become tougher in the second half, but this strong start of the year, coupled with a stronger economic outlook, led us to raise the full-year 2024 forecast for almost every individual market we monitor, bringing the expected global growth from +6.4% in December to +10% now. The full-year ad revenues of traditional media owners are now forecast to grow by +3% instead of +2%, and the ad sales of digital pure players are now expected to grow by +13% (previously +9.4%).

MAGNA released the following summary:

Traditional media owners (TMO), historically focusing on Television, Audio, Publishing, OOH, and cinema media, will grow ad revenues by +3% globally in 2024, to reach $272 billion. TMO’s non-linear ad sales (e.g., ad-supported streaming, digital audio, publishers’ digital ad sales) are now accounting for +25% of total TMO ad revenues and supporting advertising growth while traditional linear ad sales are stagnating.

Ad-supported streaming is taking off in 2024, as traditional TV players (e.g., Disney+, Max, ITV Hub, Joyn, TF1+, etc.) and pure streaming players (Netflix, Amazon) will generate at least $18 billion this year (+16%). Amazon has already introduced an ad-supported tier on Prime Video in most large markets in the first half of 2024, including the US, Canada, Mexico, France, Germany, Italy, Spain, and the UK. Everywhere users are defaulted to the new ad-supported tier, and MAGNA believes most users will permanently remain on that tier rather than upgrade to a more expensive ad-free tier. Other streaming platforms are introducing such ad tiers in more markets (e.g., Max in Latin America in Feb. 2024) while the rising cost of ad-free options makes the ad-supported tiers increasingly attractive.

Cross-platform television remains the largest traditional media with total ad sales reaching $162 billion this year (+4%) as media owners benefit from cyclical events and rapid growth of ad-supported streaming. Publishing ad sales will remain subdued (-3% to $44 billion) while Radio ad sales reach $29 billion (+2%). After finally catching up with the pre-COVID levels in 2023, OOH media continues to show significant organic growth (+7% to $35 billion) driven by additional screen units generating digital OOH growth (+12%, reaching almost 40% of global OOH ad sales), and by omnichannel programmatic spending.

Digital Pure-Play (DPP) media owners, offering Search/Commerce, Social, Short-Form Video, Static Banners, and Digital Audio ad formats, will reach $655 billion this year, growing by +13% over 2023, and accounting for 71% of total ad sales. DPP ad sales are fueled by multiple organic growth factors including the rise of ecommerce, the rise of retail media networks providing much-needed consumer data to the programmatic ecosystem, growing digital penetration in emerging markets, and better monetization of the rapidly growing short vertical video formats in social and video apps.

Keyword Search will remain the largest digital advertising format, reaching the $330 billion milestone driven by Retailer Search (e.g., Amazon and product listing ad retail media, +14% to $126 billion) and Core Search (e.g., Google, Bing, Baidu, +11% to $204 billion). Social Media ad sales (e.g., Meta, TikTok) will grow by 17.5% to $212 billion, while Short-Form Pure-Play Video platforms (e.g., YouTube, Twitch) will expand ad revenues by +14% to $78 billion.

Markets: India and Spain Among the Most Dynamic

According to MAGNA, the economic outlook is the primary factor behind advertising spending decisions, and economic activity is so far stronger than previously expected this year. In its April report, the IMF raised its 2024 GDP growth forecast for the world (from +2.9% to +3.2%), for the US (from +1.5% to +2.7%), for China, India, and Brazil.

“The forecast was lowered, however, for France and Germany, but as it happens, these two markets will benefit from hosting major sports events to support marketing and advertising activity. Meanwhile, inflation is slowing down everywhere and expected to hover between +2% and +3% in most large markets, which is still above the long-term target of monetary institutions but low enough to no longer hurt the sales and marketing efforts of CPG/FMCG brands,” said MAGNA.

Among the most dynamic ad markets this year: Spain (+14%), India and the UK (both +12%), France and the US (both +11%). Germany and China are both experiencing economic difficulties and slower-than-average advertising spending (both +8%).

It added that in the US, media owners’ ad revenue will increase by +10.7% to $374 billion. The US remains the largest and most intense ad market in the world, with advertisers spending $1,100 per consumer in 2024; it’s 8 times more than the global average ($160), ten times more than China ($110), and a hundred times more than India ($10).

Read the Article on Branding In Asia

 

Learn More About the Global Ad Forecast, Summer 2024 Update