A new report from a leading global media network reveals a very positive outlook for the global advertising market in 2016, powered by digital marketing.
“Based on data received from 59 markets across the Americas, Asia Pacific, and EMEA, Carat’s latest global forecasts show that advertising spend will reach U.S. $548.2 billion in 2016, accounting for a +4.4 percent year-on-year growth,” notes the Carat crew in its report summary emailed to MAW. “The healthy outlook is fueled by a buoyant 2016, marked by high-interest media events including the UEFA EURO championship, the Rio 2016 Olympics and Paralympics, as well as the upcoming U.S. presidential elections.”
Carat reports a positive 2016 outlook for most regions with particularly robust growth in North America (+5.0 percent) and strong recovery in Russia (+6.2 percent), countering lower expectations in some markets.
“The U.S. continues to show positive market confidence with forecasts revised up to +5.0 percent as the U.S. presidential elections alone are expected to generate U.S. $7.5 billion of incremental spend,” notes the report.
Digital media will continue to drive activity going into 2017 — to the tune of U.S. $570.4 billion. As the leading media type in 13 of the markets analyzed, digital continues to grow at double-digit prediction levels of +15.6 percent in 2016, accelerating further at +13.6 percent in 2017.
“Driven by the high demand of Mobile, Online Video, and Social Media, digital media spend is expected to reach 27.7 percent share of total global media spend in 2016, increasing to a predicted 30.2 percent in 2017.”
To learn more, check out the full report here.