In addition to digital media, other media outlets have had a positive performance this year and will continue to do so in 2022, according to a GroupM report. Next year, TV growth will rise by 6.2%, audio by 9.3%, and outdoors by a whopping 21.8% – although not all is up. “The typography is still in a terrible shape, the sound is not where it wants to be,” Wieser said.
Wieser also cautioned against celebrating this year’s gains too aggressively, considering that much of the growth recorded is just a rebound after industry-wide slippages that occurred earlier in the pandemic. “If you are trying to assess the health status, it is better to look for a specific broker in a specific country than in 2019,” he added.
Television is one format that still faces an important road to recovery. Taking into account the 13.7% decline experienced by the industry in 2020, GroupM expects it will not recover to pre-pandemic levels until 2023. Zenith also expects social media to outpace television in terms of revenue next year, generating an estimated $177 billion in advertising. Spending for $174 billion on television.
He said, “Brands have invested more in e-commerce and digital advertising, particularly in the latter half of 2021. We expect this to continue steadily until 2024, driving advertising growth in the global economy even more than in past years.” Lauren Hanrahan, CEO of Zenith.
“Social media will act as one of those key drivers, as audiences continue to shift from traditional television to social and online videos. People still have the same hunger for entertainment, news, and content; only the way they watch them has changed,” she said.
For the first time, GroupM sought to show how major advertisers allocate their TV and digital spending. To do this, the agency compared the same advertisers during the same periods to get a consistent picture.
Isolating TV and digital spending in 10 global markets, forecasts find that the average large brand dedicates 47% of its advertising budget to TV, including digital video extensions, while 35% is directed to Internet-based media, excluding digital ones. Video extensions. Compare that to 2019, when TV was 48% of the model budget and digital only 28%.