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Google, Meta Dominates as Digital Drives Global Advertising Growth-Reuters Forecast

© Reuters. File Photo: The Google LLC logo will be seen in the office in Manhattan, NY, USA, November 17, 2021. REUTERS / Andrew Kelly

Sheila Dan

(Reuters)-The global advertising industry has grown faster than previously expected this year, with brands pandemic according to two advertising industry forecasts released on search engines and Alphabet (NASDAQ :) Inc’s Google and Monday. Meta Platforms Inc to reach customers during.

Despite a year characterized by global supply chain disruptions that delayed product delivery to shelves and user privacy crackdowns by Apple Inc (NASDAQ :), which many feared disrupting mobile advertising. Brands continue to advertise online and promote e-commerce like in-store shopping Jonathan Bernard, global intelligence director at advertising firm Zenith, who released advertising spending forecasts on Monday, said the pandemic continues. , Said that the return was delayed.

Brian Weiser, Global President of Business Intelligence at advertising agency GroupM, said that new businesses formed during the pandemic had to advertise to find customers, while other businesses were in the consumer’s mind. May have maintained advertising spending to stay in front of.

GroupM forecasts global advertising spending to increase by 22.5% year-on-year in 2021, while Zenith forecasts growth of 15.6%. Both estimates have been revised upwards from previous expectations.

“This year will be the fastest growing year in the advertising industry,” Weezer said at the UBS conference on Monday.

According to the report, global advertising spending is expected to increase by about 9% in 2022.

This growth has benefited key sellers of digital advertising, Alphabet, Meta and Amazon.com Inc (NASDAQ :), and currently accounts for more than half of all non-China advertising spend, 40 in 2019. It is increasing from near%. , GroupM said.

Alphabet and Meta, formerly known as Facebook (NASDAQ :), are also facing antitrust investigations in the United States and Europe.

The need for marketers to reach consumers directly has also led to the success of retailers like Wal-Mart (NYSE :). the goal (NYSE :) and Kroger (NYSE :) will help your brand grow its advertising sales business rapidly, allowing brands to use shopper data to target more customers. According to Zenith, this type of advertising will grow 47% this year to $ 77 billion and is expected to grow to $ 143 billion by 2024.

According to Bernard, the retail media network has been established in China for over a decade, but growth in other markets is remarkable.

“In the last five years, it has grown explosively out of nowhere but China,” he said.

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Google, Meta Dominates as Digital Drives Global Advertising Growth-Reuters Forecast

Source link Google, Meta Dominates as Digital Drives Global Advertising Growth-Reuters Forecast

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