Latin America Ad Spending 2021

6 Key Figures and Trends for a Post-Pandemic World

Report by Matteo Ceurvels  | Apr 29, 2021

Digital Ad Spending 2021

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Table of Contents
Executive Summary
Analyst Note: Regional Advertising in a Post-Pandemic World
No. 1: Economic Volatility Dragged Down Total Media Ad Spending in 2020
No. 2: Traditional Media Ad Spending Will Not Return to Pre-Pandemic Levels
No. 3: Digital Emerges as the Channel of Choice for Advertisers
No. 4: Advertisers Embrace Mobile Marketing with Increased Outlays
No. 5: Social Media Continues to Attract Ad Dollars as Consumers Spend More Time on Prominent Platforms
No. 6: Digital Video Ad Spending Sees Strong Growth amid Consumer Demand for Indoor Entertainment
Key Takeaways
Read Next
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Media Gallery
About This Report
This report explores the impact the pandemic has had on our latest regional estimates and trends for total media, traditional media, digital, and mobile ad spending in six markets in Latin America: Argentina, Brazil, Chile, Colombia, Mexico, and Peru.
Topics
Total Media Ad Spending
Digital Ad Spending
Latin America
Table of Contents
Executive Summary
Analyst Note: Regional Advertising in a Post-Pandemic World
No. 1: Economic Volatility Dragged Down Total Media Ad Spending in 2020
No. 2: Traditional Media Ad Spending Will Not Return to Pre-Pandemic Levels
No. 3: Digital Emerges as the Channel of Choice for Advertisers
No. 4: Advertisers Embrace Mobile Marketing with Increased Outlays
No. 5: Social Media Continues to Attract Ad Dollars as Consumers Spend More Time on Prominent Platforms
No. 6: Digital Video Ad Spending Sees Strong Growth amid Consumer Demand for Indoor Entertainment
Key Takeaways
Read Next
Sources
Media Gallery

Executive Summary

We significantly revised our regional ad spending figures to reflect the rapidly changing conditions of Latin America’s ad market. This report provides advertisers with updated guidance on how to best navigate the region’s market movements in 2021 and beyond.

How did the coronavirus pandemic impact total media ad spending in Latin America?

A combination of government-mandated lockdowns, local currency devaluations against the US dollar, and the cancellation of major sporting events prompted total regional outlays to fall 13.1% year over year (YoY) to $20.82 billion in 2020. Last year, all six of the Latin American markets covered in this report were among the top 10 worst-performing ad markets we forecast.

How will TV ad spending fare in a post-pandemic world?

We do not expect TV outlays to bounce back to their pre-pandemic levels over the remainder of the forecast period in five of the six markets we cover. Chile is the only exception, where we project that TV ad spending will return to 2019 spending levels by the end of 2022.

How much will advertisers in Latin America spend on digital advertising in 2021?

We expect that digital ad spending in Latin America will grow 15.0% to $9.96 billion. Spend will continue to grow at an accelerated pace as consumers adopt a more digital-first lifestyle. Digital platforms will claim 43.2% of all media spending, fueled by growth in the region’s two largest ad markets, Brazil and Mexico.

How much are advertisers in Latin America prioritizing mobile?

This year, we forecast that mobile’s share of digital ad spending will surpass the three-quarter (78.5%) mark for the first time, rising from $6.43 billion to $7.82 billion.

WHAT’S IN THIS REPORT? This report features our latest forecasts for ad spending in Latin America, including six markets: Argentina, Brazil, Chile, Colombia, Mexico, and Peru. It also examines six key regional trends in 2021 and beyond.

Top 10 Countries, Ranked by Mobile Ad Spending Share, 2021 (% of total digital ad spending)
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KEY STAT: Digital ad spending in Latin America will largely be focused on mobile devices in 2021. For example, mobile ad spending in Mexico will account for 88.5% of digital ad spending, the second-highest share in the world behind China’s 92.0%.

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Table of Contents

  1. Executive Summary
  2. Analyst Note: Regional Advertising in a Post-Pandemic World
  3. No. 1: Economic Volatility Dragged Down Total Media Ad Spending in 2020
  4. No. 2: Traditional Media Ad Spending Will Not Return to Pre-Pandemic Levels
  1. No. 3: Digital Emerges as the Channel of Choice for Advertisers
  2. No. 4: Advertisers Embrace Mobile Marketing with Increased Outlays
  3. No. 5: Social Media Continues to Attract Ad Dollars as Consumers Spend More Time on Prominent Platforms
  4. No. 6: Digital Video Ad Spending Sees Strong Growth amid Consumer Demand for Indoor Entertainment
  1. Key Takeaways
  2. Read Next
  3. Sources
  4. Media Gallery

Charts in This Report

Top 10 Countries, Ranked by Mobile Ad Spending Share, 2021 (% of total digital ad spending)How Has the Coronavirus Pandemic Changed the 2020 Forecast for GDP* Growth in Latin America? (% change vs. prior year)
2020 Forecast for GDP* in Select Countries in Latin America (% change vs. prior year)2021 Forecast for GDP* in Select Countries in Latin America (% change vs. prior year)
Exchange Rate Devaluation Against the US Dollar Since the Start* of the Coronavirus Pandemic in Select Countries in Latin America, Week of March 29, 2021 vs. Week of Feb 24, 2020 (% change)Total Media Ad Spending in Brazil vs. Mexico, 2012-2022 (billions)
Total Media Ad Spending in Latin America, 2019-2025, (billions and % change)Bottom 10 Countries, Ranked by Total Media Ad Spending Growth, 2020 (% change)
Total Media Ad Spending in Select Countries in Latin America, 2019-2024 (billions)Traditional Media Ad Spending in Latin America, 2019-2025 (billions, % change, and % of total media ad spending)
Traditional Media Ad Spending Growth in Latin America, by Country, 2020 & 2021 (% change)Out-of-Home Ad Spending Growth in Select Countries in Latin America, 2020 (% change)
Print Ad Spending Growth in Select Countries in Latin America, 2020 (% change)TV Ad Spending Growth in Select Countries in Latin America, 2020 (% change)
TV Ad Spending in Chile, 2019-2025 (billions, % change, and % of total media ad spending)Share of Total Media Ad Spending in Select Countries in Latin America, by Media, 2021 (% of total)
TV Ad Spending Share in Argentina, Colombia, and Peru, 2019-2025 (% of total media ad spending)What Types of Content Do Internet Users in Argentina Watch on Linear TV vs. Digitally? (% of respondents, July 2019)
How Has the Coronavirus Pandemic Changed the Routines and Shopping Habits of Internet Users in Argentina? (% of respondents, March 2020)Average Daily Time Spent Watching Broadcast/Linear TV According to Urban Internet Users in Select Countries in Latin America, 2014-Q3 2020 (hrs:mins)
Digital Ad Spending in Latin America, 2019-2025 (billions, % change, and % of total media ad spending)Digital Ad Spending Share in Latin America, by Country, 2021 (% of total media ad spending)
Digital* vs. Traditional** Ad Spending Share in Mexico, 2019-2025 (% of total media ad spending)Digital Ad Spending Share in Latin America, by Country, 2020 (% of total media ad spending)
Digital Ad Spending in Chile vs. Colombia, by Quarter, Q1 2019-Q4 2020 (millions)Top 10 Countries, Ranked by Digital Ad Spending Growth, 2021 (% change)
Digital Ad Spending Growth in Latin America, by Country, 2021 (% change)Digital Ad Spending in Latin America, by Country, 2021 (billions)
Average Annual Exchange Rate of the Brazilian Real per US Dollar, 2011-Q1 2021How Has the Exchange Rate Changed the Forecast for Digital Ad Spending in Brazil? (billions, 2019-2025)
Digital Ad Spending Share in Latin America, by Country and Format, 2020 (% of total)Mobile Ad Spending in Latin America, 2019-2025 (billions, % change, and % of digital ad spending)
Mobile Ad Spending Share in Latin America, by Country, 2021 (% of digital ad spending)Mobile Ad Spending Growth in Latin America, by Country, 2021 (% change)
Mobile Ad Spending in Latin America, by Country, 2021 (billions)Mobile Ad Spending Share in Latin America*, by Format, 2016-2020 (% of total)
Mobile Ad Spending Share in Latin America, by Country and Format, 2020 (% of total)Social Network Users in Latin America, 2019-2024 (millions, % change, and % of internet users)
Top 10 Countries, Ranked by Average Daily Time Spent Using Social Media According to Urban Internet Users Worldwide, 2020 (hrs:mins)Average Daily Time Spent Using Social Media According to Urban Internet Users in Select Countries in Latin America, 2017-2020 (hrs:mins)
Social Media Ad Spending in Peru, 2014-2020 (millions, % change, and % of total digital ad spending)Social Media Platforms Used by Social Media Users in Brazil to Follow Brands*, Jan 2021 (% of respondents)
Social Media Platforms that Adults in Mexico Are Likely to Use to Follow a Brand/Retailer, Nov 2020 (% of respondents)Social Platforms Where Social Media Professionals in Mexico Plan to Increase Spending in 2021, Sep 2020 (% of respondents)
Primary Objective with Social Ads According to Social Media Professionals in Mexico, Sep 2020 (% of respondents)Digital Video Viewers in Latin America, 2019-2024 (millions, % change, and % of population)
Average Daily Time Spent Watching Digital TV/Streaming According to Urban Internet Users in Select Countries in Latin America, 2014-Q3 2020 (hrs:mins)Digital Video Ad Spending in Colombia, 2016-2020 (millions, % change, and % of total digital ad spending)
Share of Digital Video Ad Spending in Mexico, 2014-2019 (millions and % of total)

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authors

Matteo Ceurvels

Contributors

Shelleen Shum
Senior Director, Forecasting