The report was based on WARC global forecasts for out-of-home and cinema media—dubbed "IRL advertising" by the researchers—as well as an analysis of global consumer behavior based on The Economist’s Normalcy Index, which tracks public activity across transportation, recreation, retail, and work relative to pre-pandemic levels.
The researchers forecast that IRL global ad spend will reach $44.4 billion in 2022, below the $45.1 billion spent in 2019, but still ahead of the pace that consumers are returning to pre-pandemic in-person activities.
The recovery is forecast to continue into 2023, when the global IRL ad market is expected to reach a new high of $47.1 billion.
Global spend on out-of-home (OOH) advertising is forecast to jump by 16.5% year-over-year in 1Q22.
Annual global ad spend on cinema advertising is forecast to reach $3.4 billion in 2022, well short of the $3.8 billion marketers spent in 2019.
About the research: The report was based on WARC global forecasts for out-of-home and cinema media as well as an analysis of global consumer behavior.
You may like these other MarketingProfs articles related to Advertising & Promotions:
- Diversity in Video Ads: Gender, Age, and Ethnicity Benchmarks
- Tough Times Ahead: Global Digital Ad Forecast for 2022-2024
- The End of Third-Party Cookies Is a New Beginning for Digital Advertisers: Arsen Avakian on Marketing Smarts [Podcast]
- Love, Hate, or Indifferent? How People Feel About 6 Common Ad Formats
- The Drivers of the Current Digital Advertising Boom
- It's Time to Embrace Personalization and Education in Your OTT Advertising Model