The global advertising market is expected to exceed $1 trillion in revenue for the first time in 2024, according to a report from GroupM, a media agency of holding company WPP. Tech giants – Google, Meta, ByteDance, Amazon and Alibaba – are expected to capture more than half of the total, underscoring the dominance of digital platforms.
Why we care. A day when Omnicom announced the acquisition of Interpublic Group, which has become the largest agency holding company in the world, it is time to remember how digital advertising poses a huge challenge for traditional advertising and advertising agencies.
To remain competitive, agencies must adapt to the digital landscape, leverage AI for smarter targeting, and align with changing consumer behaviors while navigating economic uncertainties. There are signs that some of the larger agency groups have I received this message.
Key stats: THE GroupM Report underlines the following figures:
Growth 2024: Global advertising revenue is expected to increase by 9.5%, with further growth of 7.7% in 2025.
Digital sharing: Digital ads (including streaming, online news and magazines) could account for 82% of total revenue in 2025.
American market: The world’s largest advertising market, the United States, is expected to reach $379 billion in revenue by 2025.
The rise of China: China’s advertising market is expected to grow by 13.5% in 2024, reaching $204.5 billion.
Refusal to print: Print advertising revenue will decline by 4.5% next year and by another 3% in 2025.
What’s next? The report suggests that advertising growth will remain centered on technology platforms, with their share increasing alongside advances in AI. In markets like China, initiatives to boost consumer confidence could unlock pent-up demand, providing new growth opportunities.
The shift toward digital-first strategies heralds an era of transformation for advertisers, whose winners will likely emerge through their ability to leverage data and adapt to changing consumer behaviors.
Additional reporting by Kim Davis.
