Global ad rev to increase up to 8% in 2024, 9.5% growth likely for India: GroupM
As per GroupM’s 2024 midyear global forecast, the global advertising revenue will reach $989.8 billion, industry to surpass 1 trillion in revenue in 2025
Global advertising revenue will grow 7.8% in 2024 to $989.8 billion, GroupM has said in its 2024 midyear global forecast.
The industry will surpass one trillion in revenue in 2025, increasing 6.8% to $1.1 trillion, one year earlier than the December 2023 forecast.
India, which features among the agency's top 10 markets, is expected to see 9.5% growth.
“We have also revised estimates for the US, which we now expect to reach $365.9 billion in ad revenue, up 5.8% over 2023’s $345.9 billion (excluding the impact of political advertising in both years),” the report said.
As per the report, the marketing ecosystem over the next few years will face potential impacts from governments and regulatory bodies across the world — impacts that have the potential to upend forecasts and alter even the most sound projections.
Artificial Intelligence has the potential to reshape the industry — as do regulations put in place to guide (or control) its growth.
“With increased globalization - of financial systems, commerce, and media - can come a level of resilience as interconnected systems such as coral reefs tend to be very adept at recovering from multitudinous small shocks. Innovation, the exchange of ideas, and a shared goal to make the advertising industry work better for everyone will help ensure a bright future,” the report concluded.
