ADVERTISING SPENDING

Real global advertising spend will likely only rise by 2.5% next year

By our News Team | 2023

Dentsu says big events like the Euro 2024 soccer finals and US presidential election will help to push up spending.

International communications agency network Dentsu forecasts that 2024 global ad spend will grow by 4.6% in 2024, with media inflation driving worldwide spend to almost US$753-billion.

However, if inflation is removed from the equation, then the increase will only be 2.5%, when compared to 2023 spending.

Photo by Mikael Blomkvist from Pexels

The latest Dentsu ‘Global Ad Spend Forecasts’ cover 58 markets and was released this week.

Digital is also expected to follow an upward trajectory and should reach $443-billion in 2024, representing 58.8% of total global advertising spend.

The slowdown to single-digit growth first observed in 2023 (6.3%) is forecast to continue in 2024 (6.5%) and to become the norm over the next few years. Yet, digital is expected to continue to be the main driver of global ad spend growth and capture the most incremental ad dollar investments, with an additional $27.1-billion spend next year.

Dentsu says that, in 2024, significant media opportunities arise for advertisers from major cyclical sporting and political events. These include the Euro 2024 soccer finals and the US presidential election, which will both drive increased investments at a market and international level.

Events help to push advertising spending

“Despite the current worldwide geo-political instabilities and economic outlook, in 2024 we can see how significant major political and sporting events are for creating positive growth in ad spend,” says Will Swayne, Dentsu’s Global Practice President – Media.

“But overall spend is just one of the metrics we need to consider. So, for the first time, we have conducted a deep-dive analysis into market GDP and population as new alternative ad spend benchmarks for our clients.”

This analysis indicates advertising spend will represent, on average, 0.75% of the gross domestic product (GDP) of the countries tracked, which is consistent with the average annual ad spend/GDP indicator observed in the last 20 years (0.70%).

Some markets do contribute considerably more, however. For example, advertisers in Japan (1.26%), the United Kingdom (1.23%) and the United States (1.13%) spend much more than those in other markets relative to their GDP.

You can download the Dentsu ‘Global Ad Spend Forecasts’ here.

Pre-conference masterclass discusses taking African brands to the world

Participants challenged to identify, articulate and commercialise the cultural assets that make their brand ready for a global audience.

Three people stand side by side in front of a sports direct backdrop the woman in the middle holds a blue and orange 'sports direct' sign

Africa’s first Sports Direct retail store opens its doors in Nairobi

Second outlet planned for Nairobi before year end, with Nigeria, South Africa and Morocco said to be future target markets.

Person wearing a beige sweater holds a phone with a translucent search bar reading 'search' and microphonecamera icons in the foreground

Search is fragmenting – credibility and trust create the new visibility

Online search behaviour has changed significantly with the rise of AI. How can African brands adapt to this new marketing landscape?

Person shopping at a deli counter holding an orange shopping basket in a cheese section of a supermarket

The move toward future-ready food packaging where materials meet AI

Researchers propose a framework for packaging that senses, learns and acts – making packaging an active, AI-powered tool against food waste.

Conference stage with a woman in a patterned dress speaking to an audience large screens display '' logos and banners for a marketers conference with 'institute of marketing in malawi' branding on stage panels and backdrop

Malawi’s marketers urged to put trust at the heart of the profession

Country needs marketers to build recognition and consumer trust around Malawian products and national brand, says Deputy Minister.

Lingerie brand creates street-stopping advertising in Manhattan

Fashion brand suspends giant lingerie high above the city’s streets, using shadows to create a moving billboard for pedestrians and motorists.

We know AI influencers aren’t real – so why do we trust them?

Researchers describe AI influencers as having a ‘dual identity’. Consumers evaluate both ‘person’ and ‘technology’ identities at once.

Hotel receptionist assisting a guest at the check in counter with a gray suitcase nearby behind the desk

Why trust has become a critical asset for hotel industry marketers

Reputation and trust, once modest influences on hotel choice, have become some of the strongest predictors of patronage, study finds.

Three people in formal attire pose for a photo at an awards event a woman in a pink dress holds a trophy while two men in suits stand beside her against a gold confetti backdrop

FNB bank’s eBucks programme dominates the 2026 SA loyalty awards

South African brands are increasingly setting the global benchmark for customer loyalty strategies, organisers say.

Portrait of a man with short black hair and a beard wearing a black button down shirt against a light gray background

Zambia’s strongest creative ideas are emerging from local truths

Global influences among younger consumers are still present, but they are being filtered through a distinctly Zambian lens.

Yellow humanoid robot at a bakery counter inspecting a display of donuts on display in front of glass cases

Consumers have doubts about products when they’re designed by AI

Researchers find that lack of perceived ‘genuine care’ is the mechanism connecting AI involvement to lower trust ratings.