Global Radio Investment on the Rise by 2024
Posted: Tue Dec 24, 2024 8:58 am
A positive forecast for advertising investment in the United States could have an encouraging effect on the Brazilian scenario. Negatively impacted by variables similar to those seen in Brazil, there is a sense of “turning the page” for the coming months and years. According to an analysis published by WARC, there is a forecast of an additional growth rate of 7.6% for next year in advertising investment. This causes the amount invested to increase from US$303.5 billion in 2023 to US$326.7 billion in 2024. This growth outlook is encouraging and could positively influence the Brazilian advertising market, providing opportunities for increased investment and strengthening the industry.
Industry Recovery and Trends in Digital Audio
High interest rates, spiraling inflation, military conflicts and natural disasters have formed a bitter cocktail over the past 12 months. In Brazil, this reality was also present, but now, with falling interest rates and lower inflation, the local advertising market is beginning to recover, demonstrating positive prospects for Global Radio Investment , highlights James McDonald, Director of Data, Intelligence and Forecasting at WARC.
The Role of Radio in the Global Advertising Landscape
The North American advertising market is a colossal one belgium phone number list accounting for almost a third (31%) of all global spending. This lead is not only impressive but also influential, and is set to propel the global advertising market to a historic milestone in 2024. According to WARC projections, this will be the first year to reach the trillion-dollar mark in advertising spending, exceeding expectations with an 8.2% increase, in contrast to the 4.4% growth forecast for this year.
Another relevant point, very specific to the US, is that global advertising spending in 2024 will be driven by the US presidential campaign. WARC estimates that political spending will reach $15.5 billion globally next year. However, sporting events, such as the Paris Olympics, are also seen as advertising drivers and have effects beyond the US, potentially positively affecting most countries.
Online Audio Spotlight : Global Radio Investment on the Rise Through 2024
On radio, WARC sees a global turnaround underway. Despite a predicted 2.4% decline in global radio advertising spending this year, the firm estimates that radio will rebound next year with a 2.2% growth rate, with global radio revenues rising from $28.7 billion to $29.4 billion.
The analysis indicates that the most significant increase will come in online audio advertising spending. WARC projects a 6.8% growth this year, reaching $6.2 billion globally. And for next year, it predicts another 8.4% increase, bringing global online audio advertising spending to $7.2 billion.
Concentration of Resources and Other Means
Social media is expected to be the fastest-growing medium by 2024, with spending expected to reach $227.2 billion next year. Retail media will also be among the fastest-growing advertising channels globally, according to WARC.
Connected TV is also expected to grow this year (+11.4%) and next (+12.1%). However, broadcast TV spending will fall 5.4% this year, with political TV returning to a 3.5% growth rate next year, according to forecasts. Outdoor (+7.3%) and cinema (+5.2%) are also expected to see gains in advertiser spending next year, although print media is expected to shrink (-1.9%).
By economic sector, WARC’s analysis of global advertising spending shows that financial services (+11.5%) is on track to be the fastest-growing sector in 2024, followed by technology and electronics (+11.3%) and pharmaceuticals and healthcare (+11.0%).
Audiency: Enhancing the Impact of Radio Campaigns with Efficiency and Measurable Results
In a highly competitive advertising landscape, effective radio campaigns are essential to reach target audiences in a meaningful way. This is where Audiency stands out as a complete platform, offering comprehensive solutions for advertisers and advertising agencies.
Audiency recognizes the importance of closely monitoring radio campaigns and their performance in real time. This platform offers a suite of tools and features designed to optimize every aspect of offline radio media campaigns.
Industry Recovery and Trends in Digital Audio
High interest rates, spiraling inflation, military conflicts and natural disasters have formed a bitter cocktail over the past 12 months. In Brazil, this reality was also present, but now, with falling interest rates and lower inflation, the local advertising market is beginning to recover, demonstrating positive prospects for Global Radio Investment , highlights James McDonald, Director of Data, Intelligence and Forecasting at WARC.
The Role of Radio in the Global Advertising Landscape
The North American advertising market is a colossal one belgium phone number list accounting for almost a third (31%) of all global spending. This lead is not only impressive but also influential, and is set to propel the global advertising market to a historic milestone in 2024. According to WARC projections, this will be the first year to reach the trillion-dollar mark in advertising spending, exceeding expectations with an 8.2% increase, in contrast to the 4.4% growth forecast for this year.
Another relevant point, very specific to the US, is that global advertising spending in 2024 will be driven by the US presidential campaign. WARC estimates that political spending will reach $15.5 billion globally next year. However, sporting events, such as the Paris Olympics, are also seen as advertising drivers and have effects beyond the US, potentially positively affecting most countries.
Online Audio Spotlight : Global Radio Investment on the Rise Through 2024
On radio, WARC sees a global turnaround underway. Despite a predicted 2.4% decline in global radio advertising spending this year, the firm estimates that radio will rebound next year with a 2.2% growth rate, with global radio revenues rising from $28.7 billion to $29.4 billion.
The analysis indicates that the most significant increase will come in online audio advertising spending. WARC projects a 6.8% growth this year, reaching $6.2 billion globally. And for next year, it predicts another 8.4% increase, bringing global online audio advertising spending to $7.2 billion.
Concentration of Resources and Other Means
Social media is expected to be the fastest-growing medium by 2024, with spending expected to reach $227.2 billion next year. Retail media will also be among the fastest-growing advertising channels globally, according to WARC.
Connected TV is also expected to grow this year (+11.4%) and next (+12.1%). However, broadcast TV spending will fall 5.4% this year, with political TV returning to a 3.5% growth rate next year, according to forecasts. Outdoor (+7.3%) and cinema (+5.2%) are also expected to see gains in advertiser spending next year, although print media is expected to shrink (-1.9%).
By economic sector, WARC’s analysis of global advertising spending shows that financial services (+11.5%) is on track to be the fastest-growing sector in 2024, followed by technology and electronics (+11.3%) and pharmaceuticals and healthcare (+11.0%).
Audiency: Enhancing the Impact of Radio Campaigns with Efficiency and Measurable Results
In a highly competitive advertising landscape, effective radio campaigns are essential to reach target audiences in a meaningful way. This is where Audiency stands out as a complete platform, offering comprehensive solutions for advertisers and advertising agencies.
Audiency recognizes the importance of closely monitoring radio campaigns and their performance in real time. This platform offers a suite of tools and features designed to optimize every aspect of offline radio media campaigns.