Dentsu have released their Ad Spend forecast for 2021, which expects global ad spend to grow again after the impacts of COVID-19 on the industry.
Advertising spend across the globe is expected to grow 5.8 percent in 2021, after the 8.8 percent fall in spend last year as a result of COVID-19. While an estimated $579 billion will be spent globally in 2021, ad expenditure likely won’t return to pre-pandemic levels until 2022.
In the Asia-Pacific region, the pandemic led to a definite shift in favour of digital advertising in terms of ad spend. Digital ad share for the region was 55.7 percent of ad spend in 2020, higher than the global average of 48 percent.
Australia’s growth for 2021 is predicted to be an important improvement from 2020. Last year saw a loss of 11.2 percent, but 2021 is predicted to see an increase of 5.9 percent. Growth in 2022 is expected to reach 6.2 percent in 2022.
Recovery likelihood remains varied across industries. In APAC, TV reached a historic low of 28 percent in 2022 and is forecast to continue declining into 2022.
In contrast, while cinema was hit worst globally with a decline of 58.3 percent, there is the confidence that people will flock back to the pictures when they are able. By 2022, cinema is set to bounce back by 64.7 percent, but this will vary between markets and regions.
dentsu CEO APAC Ashish Bhasin (main photo) believed social commerce will be essential in the coming years.
“Accelerated by the pandemic and enabled by 5G, technologies which were once thought to be tough to embrace became our key enablers: AI, collaboration tools and social-commerce adoption usage surged,” he said in a press release.
“Based on our recent ad spend report, we are expecting to see a dramatic increase in virtual products and experiences. Now that we are unrestrained by physical space, we are at liberty to reimagine what a concert, conference, shopping experience, buying property, cars, attending a class should and can be.”
Twitter has just experienced its fastest growth in revenue since 2014, with the social media platform benefiting from increased interest from advertisers. Revenue was up 74 per cent YoY, according to the company’s Q2 results, reaching $US1.19 billion ($1.6 billion) from $US683.4 million ($925 million) 12 months ago. The strong results came in the same […]
Wild Turkey has announced the launch of its new global creative campaign and platform, ‘Trust Your Spirit’, featuring the brand’s creative director and spokesperson, Matthew McConaughey. The global campaign and platform ‘Trust Your Spirit’ is to encourage people to be bold, unapologetically themselves, and stay true to who they are. The global tagline and ethos […]
Telecommunications company Optus has announced it will launch the world’s first TikTok sign-language activated filter. Featuring Optus ambassador Ian Thorpe, Optus will unveil a branded effect that shows TikTok users how to say key phrases in Auslan sign language, including ‘How are you?’ and ‘It starts with Yes’, through the hashtag challenge #SignYes. Optus will […]
Podsights has revealed new insights into the effectiveness of advertising in podcasts, tracking global and Australian podcast advertising trends. This is the first Australian report to be published since ARN partnered with Podsights to set the standard for best-in-class podcast advertising measurement. The report includes additional analysis and follows a series of Measurement Masterclasses held for […]
NGEN’s 2021 charity cup has raised over $175,000 for UnLtd charity partner Gotcha4Life. Gotcha4Life is a not-for-profit foundation raising awareness and funding to provide educational workshops and innovative programs that build mental fitness in individuals and communities. While Sydney and Brisbane completed the Charity Cup in June, before Covid restrictions hit, the final leg in […]
Australian tech incubator Cicada Innovations and Biennale of Sydney are launching the ‘New & Sustainable Materials Challenge,’ in an effort to create a more sustainable future. The works of chosen material-makers will be showcased to millions of Biennale audiences, exhibition partners, and exhibition makers globally. The Challenge is open to any Australian and UK startups, […]