A few macro trends in global adspend

Whilst every week we are involved deeply in the granular activity of putting digital marketing strategies and plans into action, at times it's interesting to lift our eyes upwards to see what's happening at a macro level in both the global marketing and advertising industries. This week let's take a blink at what's happening with global advertising spend.

According to Dentsu's May 2023 Global Adspend Forecasts, worldwide advertising is forecast to grow by $23 billion dollars during 2023 to reach $727 billion in total. Procter & Gamble will spend nearly $10 billion of this all on their own.

More importantly to businesses with slightly less than this to spend and who are looking for "all those freebies" in the online space, digital channels will gobble up $424 billion of global adspend, or nearly 60% of the monstrous total.

Even worse, 54% of global adspend goes to just five media owners - Alibaba, Alphabet, Amazon, ByteDance and Meta. Sad not to see theB2Bcompany frolicking amongst these behemoths!

Another interesting angle to look at is the role that the US plays in this spending frenzy. Although the country's population is just over 4% of the global population, in 2023 it will gobble up over $300 billion or nearly a third of total global adspend. Aren't we lucky we not involved in that bunfight?

By 2025/2026 global advertising spend is likely to breach the trillion dollar barrier. The simple outtake is that whatever it is that we're trying to do in our own backyard is like selling glasses of water at Victoria Falls. In flood. we must always remember just how important it is to be different, unexpected and disruptive. If we constantly strive to do this, hopefully we'll be doing our little bit to help the noble crusade for creativity....