We’re not even done with 2014 yet, and already we’re seeing some record numbers when it comes to global ad spending.
New figures reported from eMarketer indicate that advertisers has spent a whopping $545.40 billion on paid media for this year, even though it isn’t even finished yet. That shows a growth of 5.7 percent, based on total media ad spending — double the rate of 2.6 percent from last year.
There are a number of trends that helped make advertising such a boon this year, including the popularity of the FIFA World Cup, as well as the Winter Olympics. In addition, there have been big increases in both online and mobile advertising, with consumers shifting their attention more to digital devices, including mobile units, game consoles and other accessories.
The U.S. continues to be the dominant leader in total media ad spending, with the country set to exceed $180 billion in spending this year alone — and that’s just a third of the worldwide total. The spending will also be the highest per capita, as U.S. advertisers are set to spend nearly $565 on paid media, per average.
How does that compare to other countries China will only spend $37.01 per person this year, a mere fraction of what the U.S. advertisers are going after. Meanwhile, Norway continues to push heavily on its front, spending $538.71 on its per person basis, just short of the U.S.’ amount.
Digital channels are proving to be the big avenue on spending, as eMarketer believes that it will increase 16.7 percent this year, totaling the amount of $140.15 billion and surpassing 25 percent of overall media ad spending — the first time it’s doing that ever. It seems likely that digital ad spending will contionue to grab an ever-larger share of the total ad spend.
It appears these numbers could be on the rise for next year as well.
Source: eMarketer
