02/03/2020
2020 ADVERTISING SPEND FORECAST NOW OUT
At just 1.1% of Global Advertising spend, Africa is projected to see a spend of of just under US$7 Billion. Worldwide, advertising spend is forecast at a total of US$660 Billion in 2020.
Television is making a comeback (US$192 Billion globally), forecast to outstrip both Online Display (that's your google etc display ads) which is forecast to attract revenue of US$172 Billion. Social Media (Facebook, Twitter etc), is forecast to see revenue of US$102 Billion. Twitter and Snapchat are the least popular advertising channels, at US3.3 Billion and US$2.3 Billion respectively.
Overall, though, online will see revenue of US$335 Billion, while offline (Press, TV, Radio, Out Of Home etc) will attract revenue of around US$324 Billion.
The situation with Africa explains why there are virtually no Billion Dollar African Companies. Elsewhere, including China and Latin America, their investment in Advertising and Marketing comes from the genuine understanding that these are genuine drivers of sales and growth for companies.
The yearly forecasts, based on information collated worldwide from the budgets disclosed by clients to their agencies as part of the 2020 Strategic Planning, have always been accurate within a 1.5% to 2% margin.