Latin America Ad Spending 2024

Mobile, Video, and Retail Media Fuel Digital’s Continuing Ascent

Report by Matteo Ceurvels  | Jul 23, 2024
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Executive Summary
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Table of Contents
Executive Summary
The economy, politics, and major sporting events will weigh heavily on ad spending this year
Five important findings from our forecast
Behind the Numbers
Listen Next
Sources
Media Gallery
About This Report
At $22.25 billion, digital advertising is advancing unabated in Latin America this year. Double-digit gains in video and retail media ad spending, as well as improving economic conditions in Brazil and Mexico, will help take the regional market to new heights. Here are the latest trends you need to know.
Topics
Total Media Ad Spending
Digital Ad Spending
Retail Media
Latin America
Table of Contents
Executive Summary
The economy, politics, and major sporting events will weigh heavily on ad spending this year
Five important findings from our forecast
Behind the Numbers
Listen Next
Sources
Media Gallery

Latin America’s digital advertising industry will continue to grow unabated in 2024, thanks to double-digit gains in video and retail media ad spending. Improving economic conditions in Brazil and Mexico will also help take the regional market to new heights, offsetting contractions in Argentina and less robust growth in smaller markets like Peru.

Key Question: Which countries, formats, and channels are driving Latin America’s ad market this year?

Total Media Ad Spending Share in Select Countries in Latin America, by Media, 2024 (% of total)
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Key Stat: Although digital’s share of total media ad spending in Latin America first exceeded 50% in 2022, Argentina and Chile will reach that milestone this year for the first time, as advertisers reduce their reliance on traditional media like TV.

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Table of Contents

  1. Executive Summary
  2. The economy, politics, and major sporting events will weigh heavily on ad spending this year
  3. Five important findings from our forecast
  1. Behind the Numbers
  2. Listen Next
  3. Sources
  1. Media Gallery

Charts in This Report

Total Media Ad Spending Share in Select Countries in Latin America, by Media, 2024 (% of total)Total Media Ad Spending in Latin America, 2022-2028 (billions and % change)
Total Media Ad Spending vs. GDP Growth in Latin America, by Country, 2024 (% change vs. prior year)Digital Ad Spending in Latin America, 2022-2028 (billions, % change, and % of total media ad spending)
Top 10 Countries, Ranked by Digital Ad Spending Growth, 2024 (% change)Digital Ad Spending Share in Latin America, by Country, 2024 & 2028 (% of total media ad spending)
Digital vs. Traditional Media Ad Spending Share in Latin America, by Device, 2011-2028 (billions and % of total media ad spending)Digital Ad Spending Share in Latin America, by Country and Format, 2024 (% of total digital ad spending)
Video Ad Spending Growth in Select Countries, 2024 (% change)Comparative Estimates: Social Media Ad Spending Share in Select Countries in Latin America, 2023 (% of total digital ad spending)
Digital Ad Revenue Growth Among Select Companies Worldwide, 2023 (% change)Digital Ad Spending in Latin America, by Format, 2013-2033 (bilions)
Digital vs. Traditional Media Ad Spending in Latin America, 2022-2028 (billions)Out-of-Home Ad Spending Growth in Select Countries in Latin America, 2024 (% change)

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authors

Matteo Ceurvels

Contributors

Paul Briggs
Principal Analyst
Suzy Davidkhanian
VP, Content
Donte Gibson
Senior Chart Editor
Wendy Malloy
Director, Reports Editor
Emma Noyes
Graphic Designer, Data Visualization
Oscar Orozco
Director, Forecasting
Naomi Rebuelta
Copy Editor
Matt Torpey
Senior Chart Data Specialist
Emman Velasco
Chart Editor
Paul Verna
Principal Analyst