It’s no secret marketers and advertisers are being asked to do more with less, with more pressure on them to prove the worth of their campaigns, even as they deal with smaller budgets, less time, and scarcer resources.
But 2015 might be the year where they’ll actually get more, for once – about $33 billion more, as a rough estimate.
Next year, advertisers are set to spend $592 billion worldwide, a six per cent jump from the amount spent in 2014. That’s according to eMarketer, a research firm that covers digital marketing, media, and commerce.
As part of its forecast, the firm followed digital, mobile, and total advertising in 22 countries, including Canada and the U.S. It divided ad spending into three categories: total media ad spending, digital ad spending, and mobile Internet ad spending.
In 2015, media ad spending is expected to hit about $592 billion worldwide. However, within that number, digital ad spending will take up about $171 billion of that total. Mobile Internet ad was the smallest category at $64.3 billion worldwide, but all three categories still saw an increase over the amount spent in 2014.
The reasons for the boosts? eMarketer found that with international, large-scale events like the World Cup, the Winter Olympics, and election period in India, Indonesia, and the U.S., advertising spend was buoyed upwards.
Other factors for the increase included more marketing investments in North America and the Asia-Pacific region, as well as a smaller increase in Latin America. The boost gained from those investments helped offset the slowdown of the economy in the Eurozone.
Not surprisingly, the country with the largest budgets is slated to be the U.S., carrying the bulk of the world’s marketing dollars at $189 billion, or about 32 per cent of the world market. It was followed by China, Japan, Germany, and the U.K. in that order, though those countries were far behind, with China trailing far behind the U.S. with spending of $73.1 billion.
Here in Canada, we were placed somewhere in the seventh or eighth slot for marketing spend in the New Year, with eMarketer estimating Canadian advertisers will spend $13 billion on media ad buys, $4.45 billion on digital ad spending, and about $1.52 billion on mobile Internet ads. That put us in the ranking of eighth of the 22 countries researched for total media ad spending, seventh for digital ad spending, and seventh for mobile Internet ad spending.
While those are modest increases compared to what’s going on in the U.S. and elsewhere in the world, they’re still signs that marketing budgets are going up in most of the world, including here in Canada.
To check out eMarketer’s side-by-side comparison of ad spending around the world, head over here.
