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.

Social media heavy users

Social media was the leading digital format by ad spending in Latin America in the Caribbean in 2022, attracting an estimated 5.3 billion dollars. The concentration in this subsegment is not without reason, as the region is home to some of the world's most dedicated social network heavy users. In the third quarter of 2022, Colombia, Mexico, Argentina, and Brazil were among the top 10 countries with the highest percentage of internet users using social media for brand research. In all those four countries, the share stood above 60 percent. While advertisers see the "socials" as a safe bet, a projection indicates that the social media ad expenditure in Latin America and the Caribbean will increase by over 20 percent to about 6.4 billion dollars in 2023.

A boom in programmatic ads

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.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by J. G. Navarro, Aug 31, 2023

Key insights

Latin America's internet ad spend
13.3bn USD
Latin America's online ad spend growth rate
13.7%
Latin America's fastest-growing digital ad markets
Peru, Argentina, and Chile
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