Television has been an immensely popular and highly effective advertising platform for almost a century. Consumers worldwide still trust it a great deal. After a pandemic-related decrease in ad spending in 2020, global television advertising revenue was forecast to recover to its pre-pandemic amounts from 2022 onwards. Moreover, 67 percent of global brands were planning on increasing their advanced TV and/or connected TV spending and 11 percent wanted to boost their linear TV budgets for 2023. However, despite its ongoing relevance to advertisers, the medium no longer remains the primary source of news and entertainment because of the growing popularity of digital media.
North America has been the world’s leading TV advertising region for decades. In 2022, TV advertising spending in North America was projected to amount to almost 67 billion U.S. dollars, up from 64 billion in the previous year. As for the United States, the largest ad market both in the region and worldwide, TV ad revenues are expected to grow in the coming years. The same is forecast for Mexican TV ad spend. In Canada, on the other hand, the numbers are still not back to their pre-2020 values, in spite of the growth the market enjoyed in 2021.
In South America, Brazil is the leading TV ad market. In 2021, the country spent over six billion U.S. dollars, which was significantly more than other players in the region. TV remains a strong ad medium, still surpassing the internet in terms of spending in many countries, e.g. in Argentina and Peru.
Europe’s television landscape has undergone dynamic changes due to the rise of digital entertainment formats as well. This development is also reflected in advertising activities but in Central and Eastern Europe, TV ad spend is predicted to experience continuous growth for the coming few years, despite a setback in 2020. On the other hand, TV ad spend in Western Europe has fluctuated for the better part of the last two decades, with a much less rapid recovery expected from 2022 onwards. As for Europe’s top TV advertising market, the United Kingdom, a steady drop in expenditures has already been unfolding since 2016. However, people’s trust in TV advertising in the UK continues to stay at the top in 2022 as well.
The Asia-Pacific (APAC) region is the second-largest TV ad market in the world. The region’s TV ad spend appears to have already reached its peak in the mid-2010s. Thus, after a pandemic-induced drop from 56 billion to about 51 billion U.S. dollars in 2020 and a slight uptick in 2021, expenditures are forecast to decline in the future. Especially in China, ad revenues are expected to plummet on an annual basis. While a similar downward trend can be seen in countries like Japan, the region’s leading advertising hub, the reverse is true for India, where earnings from TV advertising continue to flourish.
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