Advertising spend predicted to grow 4.1% in 2024 – Core
Advertising spend is predicted to grow by 4.1% this year, according to marketing advisory firm Core.
That marks a slightly slower pace of growth than the 4.6% seen in 2023, however it would bring the total amount spent here to €1.534 billion.
The majority of that money – 64% – is going towards digital channels, with €912.8m spent there last year.
Core expects that to grow by 7.85% this year, to €984.5m, with social media and video seeing the biggest increases within that.
Spending on audio adverts is also predicted to rise by 1.8% to €157.7m, thanks to a pick up in interest in digital audio.
Core said increased collaboration between traditional broadcasters and streaming or podcasts “would be welcomed by the industry”.
Meanwhile a strong release schedule will see a 17.7% pick-up in cinema ad spend, though that comes after an 11.8% dip in 2023.
TV ad spend is predicted to decline this year by 3.9% – following a 5.8% dip in 2023.
That will bring spending to €234.7m, according to Core.
It also expects a continued decline in ad revenue for news media – with a 13.1% fall in print far out-pacing the 7.1% rise in digital revenues.
Article Source – Advertising spend predicted to grow 4.1% in 2024 – Core – RTE