Global ad industry has best year since 2010

The world’s advertisers have had their best year of sales growth since 2010, propelled by digitisation and major events like the Fifa World Cup and US midterm elections, according to a study.

Industry revenues this year have grown 7.2 per cent to $552 billion (Dh2.03 trillion) across 70 countries analysed, IPG Mediabrands SA’s research unit MAGNA said. A fast-growing US economy, spending of $4 billion on US election campaigning and rapid expansion of developing markets such as India and China underpinned the expansion.

Ad spend growth is expected to slow to 4.7 per cent next year due to economic and political uncertainty, the maturity of digital media and a lack of major events, MAGNA said.

Digital media advertising has grown more than expected this year and is set to make up half of all ad spend by 2019, analysis showed.