Worldwide Digital Ad Spending Forecast H2 2024 Update

Solid Growth Projected Across the Board for Most Formats, Channels, and Publishers

Report by Ethan Cramer-Flood  | May 29, 2024
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Executive Summary
Total media ad spending will top $1 trillion worldwide next year
Traditional media ad spending is on track to be a net positive over time
Among formats and channels, display and retail media stand out
The duopoly reigns worldwide, though TikTok and Mercado Libre lead in growth
Media Gallery
About This Report
Digital, traditional, and total media ad spending growth will all accelerate in 2024, although only modestly. The outlook has stabilized for most countries and regions, even if spectacular growth is harder than ever to find.
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Digital Ad Spending
Retail Media
Worldwide
Table of Contents
Executive Summary
Total media ad spending will top $1 trillion worldwide next year
Traditional media ad spending is on track to be a net positive over time
Among formats and channels, display and retail media stand out
The duopoly reigns worldwide, though TikTok and Mercado Libre lead in growth
Media Gallery

The slight acceleration in ad spending growth we forecast six months ago has come to pass, and we do not expect any bumps in the road for the remainder of 2024. Stability and measured optimism are the new status quo, and numerous digital ad publishers stand to benefit.

Key Question: What is the outlook for ad spending and revenues worldwide in 2024 and beyond?

Ad Spending Growth for Digital, Traditional, and Total Media Worldwide, 2022-2028 (% change)
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Key Stat: Both digital and traditional ad spending will see improved YoY growth in 2024, per our forecasts. Going forward, total media ad spending growth will mostly exceed the modest rates of 2022 and 2023.

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Table of Contents

  1. Executive Summary
  2. Total media ad spending will top $1 trillion worldwide next year
  1. Traditional media ad spending is on track to be a net positive over time
  2. Among formats and channels, display and retail media stand out
  1. The duopoly reigns worldwide, though TikTok and Mercado Libre lead in growth
  2. Media Gallery

Charts in This Report

Ad Spending Growth for Digital, Traditional, and Total Media Worldwide, 2022-2028 (% change)Digital Ad Spending Worldwide, 2023-2028 (billions, % change, and % of total ad spending)
Digital and Total Ad Spending Growth Worldwide, by Region, 2024 (% change)Traditional Media Ad Spending Worldwide, 2023-2028 (billions, % change, and % of total ad spending)
Digital Ad Spending Worldwide, by Format, 2024 (billions, % change, and % of digital ad spending)Retail Media Ad Spending Worldwide, 2022-2028 (billions, % change, and % of total digital ad spending)
Top 10 Companies, Ranked by Digital Ad Revenue Growth Worldwide, 2024 (% change)

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authors

Ethan Cramer-Flood

Contributors

Cosima Balletti-Thomas
Associate Forecasting Analyst
Paul Briggs
Principal Analyst
Oscar Bruce Jr.
Senior Forecasting Analyst
Vivian Dong
Associate Forecasting Analyst
Jasmin Ellis
Forecasting Analyst
Bill Fisher
Principal Analyst, UK
Zach Goldner
Forecasting Analyst
Brian Lau
Forecasting Analyst
Peter Newman
Director, Forecasting
Oscar Orozco
Director, Forecasting
Andrew Spink
Forecasting Analyst