Digital advertising in Latin America – statistics & facts
Online advertising in Latin America has experienced unparalleled expansion. In 2023, the region accounted for an estimated 2.6 percent of the global internet ad expenditure. The figure might seem negligible at first glance, but put into perspective, it illustrates how far the subcontinent has come: A decade earlier, the share stood below 1.8 percent. Another projection includes five Latin American countries among the top 10 fastest-growing digital ad markets worldwide in 2023, with Peru, Argentina, and Chile making it to the top three thanks to forecast annual growth rates oscillating between 17 and 20 percent. Besides country-level performances, the region altogether expects continued rises ahead. According to an estimation, Latin America's internet ad spend will increase by almost 14 percent to about 13.7 billion U.S. dollars in 2023. That would be yet another milestone for a consistently-developing market.
Another trend on the rise – especially after the first year of the pandemic – is that of programmatic advertising, which consists in automated transactions of digital ad space. In 2022, Latin America's fastest-growing programmatic ad markets included Brazil, Mexico, and Chile, all with forecast increase rates above 20 percent. In the following year, according to a projection, the programmatic ad expenditure in Latin America will grow by nearly 14 percent, surpassing 11 billion dollars. The estimation also forecasts that the annual value will increase by more than 30 percent over the next three years, suggesting that the business model remains far from stalling on this part of the planet.
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J. G. Navarro
Research expert covering advertising and marketing with a focus on South America