Advertising industry in Latin America - Statistics & Facts

Advertising spending in Latin America enjoyed a robust comeback in 2021, with a growth of more than 15 percent injecting confidence following the previous year’s COVID-19-influenced drop. The region’s ad revenue growth was expected to carry on into 2022.

Largest ad markets

Brazil was by far Latin America’s largest advertising market, accounting for more than half of the region’s total ad spending. Mexico came in second with 4.3 billion U.S. dollars, and Colombia secured the bronze medal with 3.3 billion. Brazil’s ad revenue was also expected to enjoy the region’s biggest rebound in 2021, after an across-the-board contraction of ad spending in 2020 due to the COVID-19 pandemic. Brazil’s leading role in advertising was not only confined to Latin America, as proven by the country’s third place among  the most creative advertising markets in the world, behind the United Kingdom and the United States. When it came to effectiveness among advertising markets, Colombia took the crown in Latin America, followed by Argentina and Brazil.

Preferred advertising platforms

Along with most markets, the advertising industry has adapted to the digitally driven world of today. Internet advertising in Latin America has experienced a ten-fold increase over the past decade and is expected to further grow to 12.61 billion U.S. dollars by 2022, with Brazil having the largest share of digital in total ad spend. Digital audio ad spending was found to be in excellent shape, with it being expected to nearly quadruple between 2020 and 2026. Internet’s rise notwithstanding, TV remained the most invested-in advertising medium in the region, experiencing a drop from 2019 to 2020 but being expected to return to growth from 2021 onwards.

Successful ad agencies & brands

In terms of advertising effectiveness among brands, Argentine e-commerce giant Mercado Libre nabbed the region’s top spot, trailed by Mexican telecommunications provider Claro. Brazil’s ad market also had more than one reason to rejoice, with São Paulo agency Africa being ranked first among its peers in the Ibero-America region, and VMLY&R Brazil’s “I Am” ad for Starbucks – featuring a coffee shop being turned into a registry office where trans people can officially change their name - taking home the title of most creative advertising campaign in Latin America.

Interesting statistics

In the following 6 chapters, you will quickly find the 43 most important statistics relating to "Advertising industry in Latin America".

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