PUBLISHER: The Business Research Company | PRODUCT CODE: 1435598
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435598
Television advertising involves the creation and broadcast of commercials on television platforms to promote products or services. Initially, advertising on TV reaches a broader audience compared to online advertising, and it serves as a catalyst for other promotional activities.
The primary types of TV advertising services include terrestrial, multichannel, and online. Multichannel advertising encompasses the dissemination of marketing messages through various media channels, including email, social media, print, mobile, display ads, and television. These services are delivered through platforms such as cable television and satellite television, utilizing both advertisements and subscription models. Different time slots for TV ads range from 20 seconds to 60 seconds and more.
The TV advertising market research report is one of a series of new reports from The Business Research Company that provides TV advertising market statistics, including TV advertising industry global market size, regional shares, competitors with a TV advertising market share, detailed TV advertising market segments, market trends and opportunities, and any further data you may need to thrive in the TV advertising industry. This TV advertising market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The tv advertising market size has grown strongly in recent years. It will grow from $129.61 billion in 2023 to $137.9 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The historical growth can be ascribed to widespread reach and audience engagement, effectiveness in brand building, prime time programming, credibility, trust, and the dominance of traditional advertising.
The tv advertising market size is expected to see strong growth in the next few years. It will grow to $172.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The forecasted growth can be attributed to cross-channel integration and omnichannel campaigns, targeted advertising capabilities, data analytics for ad performance, interactive and shoppable ad formats, and adaptation to changing viewer habits. Major trends in the forecast period include innovations in ad formats and creatives, data privacy compliance in targeted advertising, localization, and regional targeting strategies, as well as the rise of branded content and sponsorships, along with real-time ad campaign adjustments.
The growth of the TV advertising market is expected to be propelled by the increased utilization of over-the-top (OTT) media services. OTT platforms, such as Netflix, Amazon Prime Video, and Disney+, offer non-skippable video advertisements that are 100% viewable by subscribers. Subscription-Supported Video-on-Demand Services on these platforms contribute to the non-skippable nature of ads. Projections indicate a substantial increase in OTT ad spending, reaching an estimated $2.373 billion by 2025, signifying the rapid expansion of advertising on streaming services. Therefore, the surge in over-the-top (OTT) media service usage is a driving force in the TV advertising market.
Programmatic TV advertising is gaining popularity in the TV advertising market. This form of advertising involves the automated purchase of digital advertisements using algorithms and machines, eliminating human intervention and making the process efficient and cost-effective. Programmatic advertising allows organizations to publish numerous ads across various platforms without limitations. It addresses the need for expanded ad reach as audience consumption patterns change. Programmatic TV sets, associated with programmatic advertising, enable audiences to watch OTT platforms on TV. For example, when viewing content on a programmatic TV set, in-stream ads can appear in the video player, running as frequently as desired and enhancing reach to the target audience.
Key companies in the TV advertising market are innovating with ad formats such as Connected TV (CTV) ads. CTV ads are video advertisements delivered through streaming services or apps on smart TVs, taking advantage of the growing popularity of streaming services and the shift toward digital consumption. In September 2023, Microsoft launched a new video ad product that utilizes audience data to enhance ad-serving opportunities and boost conversion rates by targeting high-value customers. Microsoft's extensive audience intelligence, a compilation of verified first-party data from multiple sources, is designed to connect advertisers with their desired audience.
In January 2021, LG Electronics acquired Alphonso for $80 million, strengthening its smart TV business portfolio to compete with major players such as Vizio, Samsung, Amazon, and Roku. Alphonso's proprietary technology and TV data services enable agencies and brands to plan, execute, and monitor interactive connected TV advertising in over 40 countries. Alphonso, an Indian-based company, operates at the intersection of television media, machine learning, and big-data analytics.
Major companies operating in the tv advertising market report are Comcast Corporation, The Walt Disney Company, Viacom Inc., WPP PLC, Publicis Groupe, Columbia Broadcasting System, Omnicom Group, Omnicom Group Inc., Cox Communication, Discovery Communications Inc., Vivendi SA, DENTSU INC., Time Warner Cable, British Broadcasting Corporation, Ogilvy & Mather Worldwide Inc., Univision Communication, Sinclair Broadcast Group, Gray Television Inc., Leo Burnett Worldwide, Havas WORLDWIDE INDIA PRIVATE LIMITED, BBDO Worldwide Inc., McCann Worldgroup, MullenLowe Group, Saatchi & Saatchi, Sun TV Network, Droga5 LLC, Fisher Communication, The Richards Group, TV Today Network, Jacob Tyler Brand & Digital Agency, Gumas Advertising L.L.C., Daniel Brian Advertising, BayCreative Inc., INNOVATIVE PRODUCTION GROUP, ThreeSixtyEight, LiveRail Inc., Division of Labor, THIEL, Anchour, R/Greenberg Associates, Anomaly Partners LLC, Deutsch Welle, Forsman & Bodenfors, M&C Saatchi Sport and Entertainment, Foote Cone & Belding Global, Crispin Porter + Bogusky, GSD&M Idea City LLC, Barton F. Graf, 22squared, Goodby Silverstein & Partners
North America was the largest region in the TV advertising market in 2023. Western Europe was the second largest region in the global TV advertising market. The regions covered in the tv advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the tv advertising market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The TV advertising market consists of revenue earned by entities by providing services such as planning, developing, creating and managing advertisement and promotional activities in television. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
TV Advertising Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on tv advertising market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for tv advertising ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The tv advertising market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.