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Advertising industry in Colombia - Statistics & Facts

Colombia is the third largest advertising market in Latin America ranking behind Mexico and Brazil, and accounting for six percent of Latin America’s total 2020 ad expenditure. The country’s 2020 ad spend is estimated at 1.6 billion U.S. dollars. Other than a drop between the years of 2017 and 2018, the Colombia’s annual advertising expenditure has been on the rise for around a decade. After spending 1.11 billion U.S. dollars on ads in 2012, Colombia’s yearly advertising expenditure is anticipated to grow to 1.95 billion by 2024.

Digital advertising

Across Latin America, digital advertising’s increasing importance in the ad industry has become hard to ignore. Placing after television as the second most invested in ad medium of the region, the internet is additionally the only medium expected to receive more money in 2022 than it did three years prior. This growth is also visible in Colombia, where digital advertising spending has increased over the past decade, reaching 1.08 trillion Colombian pesos in 2019. Furthermore, spending on mobile advertising in the Latin American nation has too been on the rise, increasing over 54 percent between 2017 and 2019.

Traditional advertising

Although spending on digital advertising has gone up, traditional media are still strong on the Colombian market. Not only TV, but also radio and newspapers accounted for larger shares of the country’s 2018 ad expenditure than the internet had. Traditional media is not only holding its place above the internet but is actually thriving in the Colombian ad market. Between 2017 and 2018, the country’s expenditure on newspaper advertising witnessed about a 28 percent growth, and radio ad spending is estimated to experience an annual increase of seven million U.S. dollars in 2020.

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Advertising in Colombia

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