Advertising industry in Latin America - Statistics & Facts

The advertising industry in Latin America shows promising figures for the coming years. Latin America’s share of global advertising spending has been gradually increasing since 2015, and is forecast to account, by 2020, for about six percent of the global ad spending. North America remains with the largest share of global ad spending, over 35 percent, followed by the Asia Pacific region.

By the end of 2018, Latin American advertising spending is projected to reach 37.4 billion U.S. dollars. Brazil is the largest ad market in the region (and seventh largest worldwide). The country is listed amongst the largest advertising markets in ad spend growth projections, with expected growth of 1.94 billion U.S. dollars by 2020. However, this is a relatively small figure when compared to other global industry leaders. The U.S. ad market, for example, is expected to grow by nearly 20 billion U.S. dollars in the same period.

Brazil
Brazil’s advertising spending for 2016 reached 10 billion U.S. dollars. By 2021, this figure is expected to increase to just over 13 billion U.S. dollars. Broadcast TV is the most dominant advertising medium in Brazil, generating an ad revenue of about five billion U.S. dollars in 2016. TV was followed by Internet with an ad revenue of two billion U.S. dollars. While television continues to be the main outlet for advertisers in the region, digital advertising spending is also expected to grow in the next few years reaching an estimated 3.5 billion U.S dollars in revenue by 2021.

Mexico
Advertising spending in Mexico is expected to increase from 4.1 billion U.S. dollars in 2016 to 4.21 billion U.S. dollars in 2018. The distribution of ad spending reveals similar patterns to the regional leader, Brazil. Television takes the lead with nearly 62 percent share of the market in 2016, followed by digital and outdoor advertising. According to forecasts, ad spend is expected to grow 2.6 percent by the end of 2018. Meanwhile, the digital advertising spending is projected to nearly double in a time span of seven years, reaching close to 24.6 billion Mexican pesos by 2021.

Argentina
With projected ad spending of 7.13 billion U.S. dollars for 2018, Argentina’s advertising market is fairly similar to the Brazilian market as both countries seem to prefer investing in more traditional advertising mediums such as television and newspapers. Despite this overall trend, mobile ad spending is still projected to grow in the country, and reach a total of 619 million U.S. dollars by 2021.

Chile
In 2016, advertising spending in Chile amounted to 688 billion Chilean pesos. In line with Brazil and Argentina, television is the most popular medium for advertisers in Chile, while newspapers and online outlets take the second and the third place respectively. In 2016, digital ad spending was at 180 million U.S. dollars and is projected to grow up to 240 million U.S. dollars by 2020.

Peru
Studies present here again television as the strongest advertising medium, however, radio remains a popular advertising medium in the Andean country, holding approximately 12.7 percent of that year’s total advertising spending.

Uruguay
Maintaining the same pattern as the rest of the Latin American countries previously mentioned, television is the favored ad spend medium in the South American country, accounting for 46 percent of the market share in 2016. There is however, in the case of Uruguay, a notable preference for outdoor advertising, which held that year 15 percent of the total ad spend.

Overall, these six markets in Latin America show similar patterns as well as peculiarities on their own. Television is the most popular medium for advertisers in Latin America in 2017, with ad spend in the region amounting to 16.77 billion U.S. dollars. Newspapers are particularly strong in both Argentina and Chile, and radio mostly stands out in Peru. While global forecasts suggest that, digital advertising spending will from now on dominate all other mediums, including TV, it is a matter of time to see if Latin America’s advertising spending will align with the rest of the world’s preference for the digital, despite the strength of TV in the region.

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