Digital overtakes traditional media in Mexico
Mexico leads the online advertising market in Latin America. In 2022, spending on digital ads accounted for over 60 percent of the total advertising expenditure – for comparison, the share was at 53 percent in Argentina and 43 percent in Peru. Additionally, estimates for 2023 placed Mexico among the fastest-growing digital ad markets worldwide. The video and social formats were expected to record the highest growth, followed by search and display.Although digital advertising’s popularity is rising and spending in the traditional broadcast medium is decreasing, TV remains an important ad medium in the country. The year 2021 saw TV ad spending in Mexico amount to 32 billion pesos, slightly higher than in the previous year. However, other traditional forms of advertisement are in decline. For example, Mexico's newspaper advertising expenditures fell from 4.7 billion pesos in 2017 to 1.29 billion pesos in 2021. As spending on newspaper ads dwindled, magazine advertising dropped even more significantly.
TV and online video: top channels to reach Mexicans
Second leading advertising medium in Mexico, TV is also the most efficient channel to communicate with consumers. In 2023, 55 percent of Mexicans mentioned television as the non-traditional platform where they recalled seeing ads. Over 40 percent cited ads seen directly in stores. A similar share indicated billboards, screens, and other ad spaces on the go. Regarding online advertisements, video portals, such as YouTube, and social media websites and apps had the highest reach – mentioned by over 50 percent of respondents as the platforms where they came across digital ads. While roughly one-third of Mexicans reported feeling often annoyed by advertising on the internet, nearly half would not mind seeing ads when getting free content in return.
