The global advertising market is set to exceed $1 trillion in revenue for the first time in 2024, according to a report by GroupM, a media agency under WPP. The tech giants—Google, Meta, ByteDance, Amazon and Alibaba—are projected to capture more than half of the total, underscoring the dominance of digital platforms.
Why we care. The $1 trillion milestone underscores the growing dominance of digital platforms, with tech giants like Google and Meta capturing the lion’s share of ad spend. To stay competitive, you must adapt to the digital-first landscape, leverage AI for smarter targeting and align with shifting consumer behaviors while navigating economic uncertainties.
Key Stats (according to GroupM):
2024 Growth: Global ad revenues are forecasted to rise by 9.5%, with further growth of 7.7% in 2025.
Digital Share: Digital ads (including streaming, online news, and magazines) could make up 82% of total revenue in 2025.
US Market: The largest ad market globally, the US, is set to reach $379 billion in revenue by 2025.
China’s Surge: China’s ad market is expected to grow by 13.5% in 2024, hitting $204.5 billion.
Decline of Print: Print ad revenue will drop by 4.5% next year and a further 3% in 2025.
The tech-driven edge. Advancements in AI and automation are expected to fuel innovation, offsetting economic headwinds and higher borrowing costs. These technologies are anticipated to enhance personalization, optimize ad spend and streamline campaign execution.