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The advertising industry is breaking records in 2024, with global revenues from non-political advertising expected to surpass USD 1 tn for the first time this year, according to the salmon-colored paper. What's more, tech giants Google, Meta, ByteDance, Amazon and Alibaba are projected to earn over half of this staggering total — reflecting their overwhelming dominance in an industry increasingly led by digital advertisers.
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What’s driving the ad revenue boom? AI automation is creating and targeting ads faster, more intelligently, and more efficiently. This has become particularly important to companies as broad-based economic challenges like higher interest rates and cautious consumer spending force firms to maximize their returns on advertising investments. By using AI tools, advertisers can adapt to constantly changing market conditions, optimize campaigns, and maintain growth.
Digital advertising continues to outpace traditional channels, with digital ads now expected to account for 73% of total revenue — or 82% when streaming and digital publications are included — by the end of next year. Digital ad revenue is projected to grow at 12.4% globally in 2024, though growth is expected to moderate to 10% by 2025.
Legacy media like print, radio, and TV are struggling: Print ad revenue is set to drop 4.5% this year, while TV shows are expected to see minimal growth at 2.4% annually through 2029.
The end of an era for ad firms? Most of global ad revenue’s growth — set to reach 7.7% in 2025 — is expected to go to major tech firms, with traditional advertising agencies less likely to directly benefit.
Major markets are reaping the rewards: The US’ ad revenues are expected to hit USD 379 bn by 2025 even amid economic pressures, while across the pond in the UK ad revenues are expected to grow 8.3% to USD 53.2 bn. And China’s recent slowdown in consumer spending hasn’t stopped ad revenues in the world’s second largest economy from growing 13.5% in 2024, boosted by initiatives to incentivize spending.
