The Key Figures
In the context of a slow global economic recovery, worldwide advertising spend is expected to increase by $35.8 billion in 2024 to reach $754.4 billion. .
Fastest pace is predicted in the Americas (+5.9% growth, 46.8% share of global spend), followed by Asia-Pacific (+4.2%, 31.3%) and Europe, Middle East and Africa (+4.0%, 21.9%). .
The US presidential election alone is forecast to account for about a third (amounting $11 billion) of the incremental ad spend in 2024. The Paris Olympics and Paralympics will also boost ad investments. .
APAC total ad spend is projected to grow by 4.2%, to reach $235.9B in 2024, bolstered by major events such as the UEFA Cup finals; Paris Olympics; the IPL and ICC Cricket in India; and local elections happening in Australia, India, Indonesia, Philippines, and South Korea. .
The APAC digital ad spend continues to make up the majority of total ad spend at 64.7%, increasing by $11.2 billion (7.9% growth rate) from 2023, to reach $152.3 billion in 2024. .
Programmatic will surpass direct buys in 2024, growing at a persistent 23.5% - a reflection of the way forward with performance media and data-driven campaigning. .
The APAC TV ad spend is projected to decline by 3.5% in 2024 to $43.7 billion. It may further decline by 1.2% in 2025. Live sports and major media events continue to draw big TV audiences. It is anticipated that streaming partners will play a larger role in the battle for sports rights during the next ten years. .
Following a growth spurt (13.5%) in 2023, the APAC OOH market is expected to increase, with more modest 3.7% growth in 2024. Digital OOH will have another year of double-digit growth, at 14.9% in 2024.
The outlook for the APAC advertising market in 2025 includes growth at 4.2% to reach $245.9 billion. Digital is expected to drive this growth, from tech developments with higher 5G adoption; increasing offerings on Connected TV, BVOD and Digital OOH; and the rise of programmatic and social, fuelled by AI.
