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Future Proof
This Year Next Year: What’s going on in Advertising and Media?
Jan 15, 2025
Kate Scott-Dawkins, Global President of Business Intelligence at GroupM and author of the "This Year Next Year" report, shares her insights on the advertising industry's rapid transformation. They discuss the predicted $1 trillion ad revenue for 2024, driven by digital channels and AI innovations. Kate highlights the growing need for trust in media platforms and the strategic importance of out-of-home advertising. The potential implications of a TikTok ban and the rise of retail media are also examined, showcasing the ever-evolving landscape for marketers.
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Quick takeaways
- Advertising revenue is projected to hit one trillion dollars in 2024, primarily driven by digital platforms and automated ad buying tools.
- Trust in advertising platforms is declining, with brands needing to focus on transparency and integrity amidst regulatory challenges and public scrutiny.
Deep dives
Projected Growth of Advertising Revenue
Advertising revenue is expected to reach $1 trillion in 2024, marking a significant milestone for the industry. This figure was initially projected for 2026, indicating a quicker-than-anticipated growth trajectory, largely driven by financial data from major media owners. The report emphasizes that the growth is predominantly attributed to large digital platforms, which have efficiently utilized automated ad buying tools and attracted a considerable number of small and medium-sized businesses. Additionally, global events like the Summer Olympics and political elections have influenced advertising patterns, further strengthening the market.
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