Global digital ad spending set to increase 15.6 percent in 2013
Posted on Sep 24, 2013 by YuMe
As digital technology plays an increasingly important role in consumers' everyday lives, brands are striving to penetrate the multiple platforms people engage with constantly. As such, every year, they're looking to invest a greater amount in online video advertising, social media marketing, search ads and mobile strategies.
According to a recent forecast from Carat, a global media communications agency, total ad spend around the world is expected to increase 3 percent in 2013 and 4.5 percent in 2014. The company's predictions suggest digital spending will outpace investments in all other media types, as it is expected to grow 15.6 percent in 2013. In addition, digital is expected to increase more than 10 percent higher than other media spending as more emerging markets embrace the Internet advertising.
Among regions expected to see the highest growth rates, Eastern Europe takes the lead, with a 5.9 and 7.4 percent increase predicted for 2013 and 2014, respectively. A major portion of this rise can be attributed to Russia, which is expected to see ad spending go up 11 percent both years.
In Asia Pacific, where advertising spend will grow 5.7 and 5.2 percent in 2013 and 2014, China has the strongest ad spending increase forecast. The country will see rises of 6.9 and 7.9 percent.
"We can expect more moderate rates of growth in China in line with slowing of the GDP growth, but the market continues to be the major player in driving growth in Asia Pacific," Nick Waters, CEO for Aegis Media Asia Pacific, said in a statement, according to ClickZ. "South East Asian markets continue to show significant and rapid growth".
The source noted global digital media spending will increase an impressive 18.3 percent. Specifically, display investments will rise 14 percent, fueled in great part by Internet video advertising.