The Asia-Pacific is set to surpass North America in total ad spending in 2014, according to a new report.
Starcom MediaVest Group and eMarketer are behind the report that suggests China will become the world’s second-largest advertising market next year, then the second-largest digital advertising market in 2014 – behind the US.
The strong growth in the region is predicted due to big growth in internet and mobile usage, plus fast growth in digital advertising spending.
The Global Media Intelligence report also predicts that spending on advertising will rise from $538.75bn this year to $676.17bn in 2016 because the advertising industry has proved resilient against ongoing financial hurdles around the world.
During the next four year, global spending on mobile advertising is expected to rocket from $6.6bn to $25.3bn. On top of this, digital platforms are expected to account for about 44% of all ad spending by 2016.
The report is produced by eMarketer once a year. eMarketer president Lisa Church said: “Demand for information about media trends in emerging global markets is at an all-time high.”