New York-based world’s largest advertising media company, Group M has projected that global ad spending in digital media, which is expected to reach $95 billion this year, will increase 14 per cent next year and comprise 20 per cent share of ad budgets.
Though it is not clear yet how much is spent on digital advertising in Nigeria, the above-the-line advertising accounts for about N120 billion annually.
While Experts have expressed confidence that the rise in digital advertising will not affect ad spend on other traditional media platforms, it is expected that digital advertising will increase, especially as advertisers search for new ways to connect with consumers.
The group also revised its predictions for ad spending globally for 2013. The company expects ad spending in measured media across 75 countries to grow 3.4 percent to $507 billion in 2013. It had predicted growth of 4.5 percent in a forecast in December, according to Adage report. The report said the new figure would represent a slight slowdown from last year, when global ad spending in measured media grew 3.6 percent to $490 billion.