The advertising industry closes 2024 with outstanding results and excellent prospects for the future. GroupM, WPP’s media investment group, has unveiled its much-anticipated “This Year Next Year 2024 Global End-of-Year Forecast.” The report highlights remarkable growth across the global advertising industry, fueled by the dominance of digital channels and the rise of retail media.

With the industry crossing $1 trillion in revenue for the first time in 2024 (excluding U.S. political advertising), the forecast provides insights into what’s driving this expansion and what lies ahead for 2025 and beyond.

Global Advertising Investments Soar

The advertising industry saw a 9.5% increase in global ad investments in 2024, marking a historic milestone as total revenue exceeded $1 trillion. GroupM projects a further 7.7% growth in 2025, pushing the market to an impressive $1.1 trillion.

Source: GroupM, “This Year Next Year 2024 Global End-of-Year Forecast.”

Digital Dominance Continues

Pure-play digital advertising remains the industry’s powerhouse. In 2024, digital ad spending grew by 12.4% globally and is expected to account for a staggering 72.9% of total advertising revenue by 2025.

 

Source: GroupM, “This Year Next Year 2024 Global End-of-Year Forecast.”

Retail media is emerging as a standout segment within digital, with projected revenues of $177.1 billion in 2025—overtaking total TV revenue, including streaming, for the first time.

Mixed Fortunes for Traditional Media

Out-of-Home Advertising (OOH): The sector has sustained its global share, thanks largely to digital out-of-home (DOOH) advancements. DOOH is forecast to represent 42% of total OOH revenue by 2025.

Audio Advertising

Global audio revenues, encompassing traditional AM/FM radio and digital audio platforms, will remain flat in 2025. While digital audio’s popularity continues to rise, traditional radio faces mounting competition from new digital formats and platforms.

 

Source: GroupM, “This Year Next Year 2024 Global End-of-Year Forecast.”

Print Media

Print advertising is set for further decline, driven by digitisation and the adoption of AI technologies in content consumption and advertising.

Regional Insights

  • All of the top ten advertising markets are forecast to grow in 2024, though growth rates vary:
  • The United States is the largest market, with ad revenues expected to grow 9.0% to $400.2 billion.
  • China is the second-largest market, leading growth at 13.5% to reach $204.5 billion.

 

Source: GroupM, “This Year Next Year 2024 Global End-of-Year Forecast.”

The United Kingdom and Japan Ranked third and fourth, respectively, followed by Germany, France, Canada, Brazil, India, and Australia.

Implications for the Audio Industry

While traditional audio platforms face stagnation, digital audio is emerging as a bright spot. Advertisers are increasingly turning to podcasting, streaming services, and digital radio to leverage these formats’ precision targeting and cross-platform integrations. The challenge for traditional radio lies in adapting to this shift, exploring digital integration, and creating compelling cross-platform campaigns that maintain audience loyalty.

Emerging Trends for 2025

Retail Media Boom: Retail media’s rapid ascent underscores the shift in consumer behaviour and the growing importance of e-commerce ecosystems in ad strategies.

DOOH Expansion: Advancements in technology drive higher adoption of DOOH, making it a key focus for advertisers aiming to connect with urban, tech-savvy audiences.

AI-Driven Innovations: Artificial intelligence continues to reshape the advertising landscape, driving personalised experiences and more efficient media buying processes.

What’s Next?

GroupM’s forecast provides a clear roadmap for advertisers navigating the evolving media landscape. As digital formats dominate, brands and publishers must embrace innovation and adaptability to stay ahead.

For a detailed breakdown of these findings and their implications for the future of advertising, check out GroupM’s full “This Year Next Year 2024 Global End-of-Year Forecast.”

Explore the full report and uncover actionable insights for your 2025 advertising strategy. Stay ahead of the curve by embracing the trends shaping the future of media and advertising.

 

Source: GroupM, “This Year Next Year 2024 Global End-of-Year Forecast.”