GroupM, WPP’s media investment group, has released its End-of-Year TYNY Global Advertising Forecast for 2024, revealing a 9.5% growth in global advertising investment, propelled by strong performance from the largest advertising sellers and increased digital expansion. The industry is on track to reach a total revenue of $1.04 trillion in 2024, excluding U.S. political advertising. Looking ahead, global ad spending is projected to grow another 7.7% in 2025, reaching $1.1 trillion, before gradually slowing in the coming years. According to TYNY’s forecast, growth is expected to decline to 6.3% in 2026, 6% in 2027, 6.3% in 2028, and 5.9% in 2029.
Digital Continues to Dominate the Global Ad Landscape
Pure-play digital advertising remains the dominant channel, with a projected growth rate of 12.4% in 2024. This continued growth means that digital will account for a staggering 72.9% of total global advertising revenue by 2025. Retail media, a rapidly growing segment within digital advertising, is expected to reach $177.1 billion globally by 2025, surpassing total TV advertising revenues, including streaming. This marks a significant shift as advertisers increasingly turn to digital and ecommerce platforms to reach consumers across various touchpoints.
Out-of-home (OOH) advertising has retained its market share, largely thanks to the growth of its digital out-of-home (DOOH) counterpart. DOOH is projected to account for 42% of total OOH revenue by 2025. On the other hand, audio advertising is expected to remain largely flat in 2025, while print advertising faces continued declines, driven by increased digitization and the growing influence of AI-driven advertising technologies.
Strong Growth Across Global Markets
All of the top ten advertising markets are expected to see growth in 2024, though at varying rates. The United States and China remain the two largest ad markets, with the U.S. expected to grow 9.0% to $400.2 billion and China projected to grow 13.5% to $204.5 billion. The United Kingdom holds third place, just ahead of Japan, with continued robust growth expected in these regions.
Germany and France will maintain their rankings, followed by Canada, Brazil, India, and Australia. India remains as one of the fastest growing advertising market and stands at No. 8 among the global ranking, with $18.5 billion in ad revenue, translating into a 10.2% growth in 2024. It is expected to grow at 9.4% in 2025, driven by the ongoing expansion of digital advertising, social media, and ecommerce, positioning it as one of the fastest-growing markets in the global ad industry.
Looking Ahead: A Shift Toward Digital and Retail Media
The forecast for 2025 shows continued momentum for digital advertising channels, with retail media emerging as one of the most significant growth areas. The rapid expansion of ecommerce platforms and commerce media networks has redirected billions of dollars from traditional trade marketing into digital formats, making retail media a $177.1 billion industry by 2025, larger than TV ad revenue for the first time.
GroupM’s report highlights that despite the challenges facing traditional media like print and radio, digital platforms—especially those focused on social media, search, and retail media—are expected to continue their dominance, reshaping the advertising landscape in the coming years.
As digital transformation accelerates, advertisers will continue to invest in new technologies, including AI-powered advertising, data-driven targeting, and innovative ad formats like DOOH and short-form video, further solidifying digital advertising’s position at the forefront of global ad investment.
