Google, Meta dominate as digital propels global advertising growth -forecasts
By
Despite a year marked by worldwide supply chain disruptions
that delayed products from reaching shelves and a user privacy
clampdown by Apple Inc (AAPL) that many feared would disrupt
mobile advertising, brands have continued to advertise online as
in-store shopping has been slow to return due to the ongoing
pandemic, said
New businesses formed during the pandemic needed to
advertise to find customers, while others likely maintained ad
spending to stay in front of consumers' minds, said
GroupM forecast global ad spending to grow 22.5% in 2021 from the previous year, while Zenith estimated growth of 15.6% -- both estimates were revised up from previous expectations.
Global ad spending is expected to increase by about 9% in 2022, according to the reports.
The growth has been a boon for Alphabet, Meta and Amazon.com
Inc (AMZN), major sellers of digital ads and which now account
for more than half of all advertising spending outside of
It also comes as Alphabet and Meta, the company formerly
known as Facebook, both face antitrust investigations in
The need for marketers to directly reach consumers has also
led to the success of retailers like Walmart (WMT), Target (TGT) and Kroger (KR)
to rapidly grow their own ad sales businesses, allowing brands
to use their shopper data to target more customers. This form of
advertising grew 47% this year to total
Retail media networks have been established in
"In the last five years, it has grown explosively out of
nowhere outside of
(Reporting by