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 SPENDING
E-commerce and media consumption shifts will drive digital ad sales
By our News Team | 2022
Digital advertising is expected to rise by 8% next year, says Magna. OOH and digital video will be among the best performers.
Magna, the global media investment and intelligence company, has downgraded its growth estimates for the global advertising industry and is now expecting 5% growth in 2023, versus the 7.5% predicted in its June 2022 report.
It attributes this expected downturn to a deteriorating macroeconomic environment that includes factors such as the Russia-Ukraine war and the international cost-of-living crisis.
Photo by Andres Ayrton from Pexels
But digital ad sales are expected to rise by 8%, reaching US$557-billion in global sales and comprising 65% of all ad sales.
E-commerce and ongoing shifts in media consumption habits will drive digital ad sales, Magna believes, with digital video expected to be the fastest-growing ad format.
A recovery in social media?
A recovery in social media could see ad sales increase 7% in the segment, while search is expected to gain 10%.
OOH had a brighter-than-most 2022 and is expected to make a full global recovery in 2023, reaching $33.5-billion in ad revenue.
Strong growth is expected for ad-supported video on demand and linear addressable. Resilient pricing and sport genres are also expected to cushion the TV sector, while rising concerns around brand safety could slow digital investments for some marketers, potentially benefiting TV.
”Marketers continue to value the brand safety that editorial media vendors deliver, combined with expanding cross-platform opportunities,” said Vincent Létang, Executive Vice President of Global Market Research at Magna and author of the report.
Major global markets such as China and India could experience a recovery next year. China, the second largest ad market reflecting 15% of global revenue, is expected to grow 7% to $128-billion following a weak 2022 performance of 3% growth. The slow year was largely driven by China’s zero-Covid policy, which has led to internal protests and market disruptions.
India, which is among the top 15 advertising markets globally, is expected to grow 14% next year, with South Korea’s market expected to grow 7%. However, key markets such as Germany, Italy, Spain and Japan are forecast to have little growth.
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.