2024 has become an absolute bull year for the advertising industry: advertising revenues will exceed the symbolic USD 1 trillion mark for the first time ever this year. To the delight (and benefit) of the tech giants.
According to estimates by the American GroupM, the world’s largest media buying agency, global advertising revenues will rise by 9.5 percent this year. The symbolic barrier of 1,000 billion dollars (approximately 954 billion euros) is immediately broken. Despite the rather gloomy economic climate, the American and Chinese advertising markets in particular have ensured that the record has been broken faster than previously expected.
For the first time, the tech and web giants are generating more advertising revenue than traditional media such as newspapers and magazines, television, cinemas and outdoor advertising. The so-called Gamab’s (Google, Amazon, Meta, Alibaba and Tiktok parent Bytedance) benefit from the continued boom in digital advertising, which grew 12 percent this year and could account for more than 70 percent of the market next year.