Airline body urges African governments to act on opening market access
‘Strategies don’t move people. Now it is time to make the difficult decisions and execute them,’ senior executive stresses.
ADVERTISING
Ad spend is still growing this year, but is down on predictions
By our News Team | 2022
Global advertising sector is now predicted to grow at 8.4% in 2022, more than one percent less than previous expectations, says report.
The global advertising sector is being predicted to grow 8.4% this year, according to international ad agency GroupM, which is part of the WPP network. However, this figure is slightly down on the 9.7% prediction made by the agency late last year.
This less bullish outlook is being attributed to “numerous problems at the forefront of daily life in many of the world’s largest advertising markets”. Among these is the impact of the Russia-Ukraine conflict, supply chain limitations, ongoing lockdowns in China, and higher prices for consumers – particularly food.
Photo by Jose Francisco Fernandez Saura from Pexels
China, where advertising accounts for 20% of the global ad market, is struggling economically due to Covid-induced lockdowns and the impact on global ad spend will likely be significant.
US political advertising, which accounts for billions in advertising revenue each year, is specifically excluded from the GroupM industry forecasts.
Many ad industry people are overly negative
“Although the overall economy and environment is more negative now than it was in December … people in our industry – and I think many pundits – are overly negative relative to the reality of how the overall economy is faring,” Brian Wieser, the President of Business Intelligence at GroupM, is quoted as saying by Reuters news agency.
Reuters further noted: “The advertising market, which typically tracks the broader health of economies, is settling after experiencing highs in 2021, when it was boosted by strong economic recovery and personal consumption.”
According to the GroupM report, digital advertising continues to take more share of the market and digital advertising platforms should grow by 11.5% during 2022. This is down on the previous forecast of 13.5% growth this year.
Digital currently represents 67% of the industry’s total advertising expenditure, and should reach 73% in 2027, the agency predicted.
Uganda Tourism Board partners with major European ice hockey league
UTB says its ambition is to turn the visibility into interest, bookings and more visitors choosing to explore Uganda.
Researchers explain why 10-second micro ads outperform longer spots
Short ads shown on TV increased website visits within five minutes of airing by 10-40% compared with longer advertisements.
Competition continues to grow in the Moroccan supermarket sector
Supeco’s rapid expansion shows how the discount model is becoming a bigger part of grocery retail in the North African country.
Study identifies harmful paradox behind well-meaning green efforts
Consumers reward visible eco-friendly additions such as reusable bottles, but give little credit to businesses that reduce or remove products.
President Mahama commissions expanded evaporated milk facility in Ghana
Nestlé believes Ghana will continue to play a leading role in the future of Central and West Africa.
Momentum beginning to build for 2027 ACCS gathering in Addis Ababa
Ethiopia’s marketers gather to celebrate hosting next year’s conference – but with an eye on the hard work ahead.
PwC report examines the future of African entertainment and media
Tech is creating more ways for audiences to connect, but lasting value will come from understanding the people behind those connections.
Unilever investment expands its Vaseline production capacity in Africa
The new production line at the historic Maydon Wharf facility in Durban will address growing international demand.
World MICE Awards in Jamaica honour best African and global achievers
Tanzania, Kenya, Zimbabwe, Ethiopia and South Africa all feature in the African meetings, incentives, conferences and exhibitions awards.
AI won’t replace market research. But it will expose weak strategy
Much of the broader conversation around AI in market research assumes conditions that do not consistently exist across many African markets, writes Soyinka Witness.