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.
Know someone who would enjoy it too? Share with your friends, free of charge, no sign up required! Simply share this link, and they will get instant access…
You may like these other MarketingProfs articles related to Advertising & Promotions:
- LinkedIn Ads Myths, Hurdles, and Strategies B2B Marketers Need to Know: AJ Wilcox on Marketing Smarts [Podcast]
- The PPC Power Players: Ad Platforms Making a Big Impact in 2023
- The Top 50 Podcasts in the United States [Infographic]
- Out-of-Home Advertising for B2B Marketing Success | Marketing Smarts Live Show
- Identifying the Best Advertising Strategy for Your Business | Marketing Smarts Live Show
- YouTube's Rebound: Ad Revenue Forecasts for 2023-24