Even these numbers are often educated
guesses.
Estimates of ad spending may
include spending at both local and national media outlets, as well as spending
on internet media via paid search and online ads.
In recent years, ads on social media sites have
been added to the media spending mix.
Another important development has been the use of data mining and
predictive analytics to study patterns of consumer media use in order to place
ads, especially digital ads, in front of the best possible audience for a
particular ad.
For example, Facebook
enables the advertiser to drill deep into consumer demographics, tastes, habits
and locales in order to have ads appear to highly niched groups.
The winners in this
pandemic environment will be ecommerce companies such as Amazon, grocery
sellers including Wal-Mart and Target as well as some other types of services
delivered online, such as Netflix.
2020 and 2021 Advertising Spending
The Coronavirus pandemic put the world's advertising market into a significant slump during 2020.
On a global basis, ad spending reached $552.0 billion in 2020, down from $618.9 billion in 2019, according to the World Advertising and Research Center.
However, the reader should keep in mind that the total size of the advertising market varies widely from source-to-source.
By mid-2021, the market was clearly rebounding sharply.
Analysts at GroupM forecasted U.S.
spending to grow by 14.9% for 2021, to
Read More
...