Out-of-Home ad spend to hit $46B

Global Ad Spend

Globally reputed advertising firm Dentu released their 2024 ad spend forecasts. According to this report, global advertising spend expected to grow by 4.6% in 2024 to reach US$752.8 billion.

Asia Pacific has now overtaken EMEA to be the second largest region by revenue. It is also the region with the largest mix of digital spend at 64% nearly 10pp higher than other regions.

Global growth in advertising spend is forecast to continue at a 4.4% three-year CAGR.

Regional Ad Spend Mix

While the Americas remain as the largest region by size, Asia Pacific has already overtaken EMEA to be the second largest market. Asia with its large emerging markets in India, Indonesia and Vietnam has a lot of leg room for growth. It is quite likely that AsiaPacific markets will reach the same size as the Americas by end of this decade

OOH experiencing rapid growth

OOH segment is the fastest channel after digital and is expected to grow at 4.6% 3YR CAGR. Digital OOH (DOOH) is fastest growth segment among all ad spend(8.5% in both 2023 and 2024).

In markets such as Australia and the United Kingdom, DOOH has already overtaken traditional OOH spend to account for 68.1% and 64.6% share of OOH spend, respectively.

Programmatic ad spend will experience a higher mix of the DOOH ad revenue.

"The rise of programmatic buying allows better syncing of digital campaigns across media and could be the lever helping OOH to take a greater percentage of global ad spend in the future."

Source

Dentsu Forecast 2024