Growth in global ad spend is projected to further accelerate over the course of 2018, reaching a total of $572bn before the year is out on the back of 4.7% annual growth.
The bold prediction was made by marketing intelligence service Warc via its latest Global Ad Trends report, which calculated likely ad expenditure across 96 global markets.
Full-year projections for 2018 have been given a helping hand by PyeongChang Winter Olympics, Fifa World Cup and US mid-term elections, further enhanced by reduced dollar volatility on emerging markets. As such growth in North America is likely to hit 5%, just behind the 6% uptick in Asia-Pacific though well ahead of the 2.6% growth expected in Europe.
Warc data editor James McDonald said: "2018 should be a stellar year for global advertising, with ad investment set to grow at its strongest rate since the post recovery years of 2010 and 2011. All global regions, with the exception of the Middle East, are expected to register growth, supported by key quadrennial events – notably the Winter Olympics in South Korea, the FIFA World Cup in Russia and the US mid-term elections."
Mobile continues to be a key driver of growth with its share of global advertising increasing by 5.9% to 20.6% over the course of 2017, with 45% of this market originating in the US.
Television maintained its dominance over online video in the latest appraisal, outweighing its upstart rival at a ratio of 6:1.