The global advertising industry grew at about four percent in 2016, with the Rio Olympics and the U.S. presidential elections providing a shot in the arm. However, slowdowns in China and Brazil restricted the overall growth rate, while Brexit had no tangible effect on macro indicators.
In 2017, the industry is expected to grow beyond $550 billion, maintaining a steady rate of 4.5 percent. An increase in digital spend and greater adoption of programmatic advertising will most likely be the primary reasons for this growth. In the ever-changing technology-driven world we live in today, it is obvious to expect lessening demand for traditional means of advertising like print media, given the pressure to embrace digital, often mobile-friendly alternatives.
GEP’s annual Procurement Outlook report indicates that automation will have a major hand in bringing about the aforementioned trends in 2017. Even within the digital space, mobile ads are increasingly preferred over their desktop counterparts, gradually replacing the latter as the apex platform for online advertising.
What does this mean for digital marketers and agencies alike? Is it the end of the road for TV, radio and OOH, or will they adapt to the changing times? Can integrated marketing analytics provide an answer, and perhaps maybe an opportunity for domains like consulting?
Find out all this and more when you read the GEP Procurement Outlook Report 2017. (Complimentary Access)