Report: Global TV ad spending
StockApps.com has released a report on global television advertising spending. According to the report, television spend accounted for 28.3% of the global advertising budget in 2021, representing a decline of 2.6% from 2020. The report highlights the increasing consumer use of on-demand video services as the cause of the decline. According to the report, television is no longer the dominant source of news and entertainment globally. However, the report also notes that major sports events this year will likely increase television consumption, particularly among young adults. Advertising spending growth in 2022 is predicted to return to pre-pandemic levels, according to the report.
“In recent years, people's viewing habits have switched to on-demand programming,” said Edith Reads of Stockapps.com. “Consequently, global TV ad expenditure has been steadily dropping. The major issue that affects TV ads is the world's digitalization. Most people prefer to advertise their products on social sites, search engines, or short videos on various handles of influencers. Therefore, it is not surprising to see the continuous decline in TV global ads.”