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Report: Increased ad spending in 2018
By Adnews Staff
Dentsu Aegis Network has released a report predicting that global advertising expenditure will increase by 3.9% in 2018. This is in comparison to a 3.3% increase in 2017. In Canada, advertising spending is expected to increase by 2.3% this year, compared to approximately zero in 2017. The increase is predicted to be a factor of events such as the Winter Olympics, the FIFA World Cup and national elections in the United States.
Worldwide digital media spending is expected to increase by 12.6% in 2018 to US$230.6 billion. Online video spending is expected to increase by 24%, while social media spending will increase by 21%. This is the first year that digital ad spending is expected to be larger that television spending.
"We continue to see positive momentum in the Canadian market with digital expected to represent more than half of all ad spending with mobile posting the largest gains over the next few years," said Hisham Ghostine, chief commercial officer at Dentsu Aegis Network Canada. "As for TV, the increased cord-cutting trend may be offset by the rise in innovations such as programmatic and connected TV. While we do expect a variation in ad spending amongst some key sectors, we anticipate a continued upward trend in key markets including electronics, financial services and telecommunications."