Global Ad Revenue Set for Major Growth

As per GroupM’s recent 2024 Global Midyear Forecast, global advertising revenue is projected to experience significant growth in the coming years. With global pharma media being a large part of global ad spend, this report is worth a read for anyone working in this industry. We pull out the key highlights below:

• Revenue Surge: Global advertising revenue is projected to grow by 7.8% in 2024, reaching $989.8 billion, and surpass $1 trillion by 2025.
• U.S. Market Boom: U.S. ad revenue is expected to hit $365.9 billion in 2024, a 5.8% increase from 2023.
• Digital Dominance: Digital media is set to grow by 10%, leading the charge in advertising innovation.
• AI Revolution: AI-enabled advertising is driving personalized and efficient targeting, transforming the industry.
• Retail Media Rise: Retail media will see a robust 17.5% growth, reflecting its increasing importance.
• Top Growth Markets: China (14%), India (9.5%), and Brazil (11.3%) are among the fastest-growing markets.

Thoughts from solli

1. With Pharma being such a big spender across global advertising, do these trends run true globally within pharma ad spend?
2. To what extent is this driven my media inflation versus recognition in the value of media?
3. How will this impact the global & channel media budget allocations across global pharma?

To read the full report, click here.