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    Ad Market Expected to Fully Recover in 2021 Dominated by Digital, dentsu Forecast Suggests

    The pandemic-induced decline in global advertising spend during 2020 has proved less severe than anticipated. Based on proprietary dentsu data from across 59 markets covering the Americas, EMEA, Asia Pacific and Rest of World until the second half of June 2021, the latest Ad Spend Forecast by the global media agency arrives at this conclusion. The overall ad market outlook for 2021 is a recovery of 10.4% growth and a spend of US$634 billion, exceeding pre-pandemic levels. Let’s dig into the key takeaways from this insightful report:

    • A global and sustainable recovery anticipated. A return to growth is predicted for all regions in 2021: North America 13.7%, Latin America 13.6%, Central and Eastern Europe 8.9%, Asia Pacific 8.0% and Western Europe 7.5%. Pre-pandemic levels of spend are forecast in North America, Asia Pacific and Central and Eastern Europe – all of which have exceeded January forecasts for this year. The recovery is set to continue into 2022, when ad spend is predicted to grow 7.2% to reach US$680 billion.
    • Digital dominates. The 4.0% growth in Digital spend in 2020 helped grow the channel’s share of global ad spend by 5 percentage points versus 2019 (42.9% to 47.8%), an additional 2% higher than the yearly average over the 10 years prior to 2020. Forecasts for 2021 suggest a return to double-digit growth in digital ad spend of 15.6% (revised up from the 10.1% predicted in January 2021) to reach US$311.0 billion, representing a 50.0% share of global ad spend.
    • Video on the rise. In 2021 Social and Video ad spend is forecast to grow at 23.0% and 17.0%  respectively, upgraded from 18.3% and 10.8% predicted in the January 2021 report.
    • A growing and evolving media ecosystem. Based on analysis across industries, Media & Entertainment is forecast to achieve 8.9% following a 15.2% reduction in 2020.  The report’s key considerations call for empowering brands in making informed decisions regarding media channels, data and insights using this period to explore new arenas in which to deliver brand messages and diversify their campaigns across new platforms to drive engagement.

    While 2020 remains the weakest performing year since the global financial crisis, dentsu’s January 2021 forecast has now been revised up from -8.8% to -7.2% , which is a strong indication that the industry has not only bounced back in 2021 but is on the way up in the new normal. We at SmartAd are well-equipped to empower you on your journey to meet the needs of a changing media landscape in the best possible way.  Watch out for updates on our latest developments and keep following our Marketing Bites for further industry insights.