PricewaterhouseCoopers has issued its latest annual Global Entertainment & Media Outlook report, a comprehensive study that contains projections for online and offline media advertising markets through 2023. Take a look at some of the highlights for major media markets covered by PwC, ordered by projected size in 2023, and specific to the US.
- Online advertising dwarfs TV advertising in terms of spend. PwC predicts a strong 8.4% compound annual growth rate CAGR 2018-2023
- As expected, mobile will grow faster than the online advertising market boasting a CAGR of 13.1% TV is only projected to have slight growth which they estimate to be a paltry 0.3%
- Radio will increase from $17.9 billion in 2019 to $18.4 billion in 2023. The CAGR from 2018-2023 is expected to be 0.7% Magazine ad market is expected to be worth $15.6 billion this year but fall to $13.9 billion in 2023. As such, the annual decline is 2.8%
- Newspaper advertising continues to decline from $14.8 billion in 2019 to $12.3 billion in 2023 -4.7% OOH has the strongest outlook among traditional media, buoyed almost entirely by growth in DOOH, CAGR estimated at an impressive 29%
https://www.marketingcharts.com/advertising-trends-108995
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