LONDON: Global adspend has increased from $362bn in 2004 to $512.9bn in 2013, a rise of 41.7% over the past decade, according to new long-term analysis published by Warc.

The Global Ad Trends report draws on data stored in Warc's adspend database, which tracks advertising expenditure for main media across 88 individual markets going back to 1980.

The last ten years have seen major shifts in the allocation of advertising budgets by media channel and global region, the report shows.

Despite some gloomy predictions for its future relevance, TV remains the biggest advertising medium globally with 40.8% share of total adspend, having recorded overall spend of $209.5bn in 2013. The channel registered significant growth of 55.7% since 2004.

Over the same period, internet advertising spend grew from $15.5bn in 2004 to $120.4bn in 2013, an increase of 675%. This equates to a ten-year rise in share of global adspend from 4.3% in 2004 to 23.5% in 2013.

This rapid expansion for internet has come at the expense of the print sector – inclusive of both newspapers and magazines – which has seen total advertising spend fall by $41.1bn over the last ten years to just $116.4bn.

Both newspapers and magazines saw their shares of total global adspend roughly halve since 2004.

Turning to the remaining media, both out of home and cinema maintained their overall shares of global ad revenues since 2004, with marginal increases of 0.2pp and 0.1pp respectively.

Out of home accounted for total spend of $30.2bn in 2013, while cinema – the smallest advertising channel measured – registered just $2.5bn. Radio, with advertising spend of $34bn in 2013, saw a decline of 2.0pp overall from 2004.

Looking at advertising budgets by region, North America remains the biggest spender, accounting for 33.6% or $172.2bn in 2013, but saw a drop of 11.1pp since 2004.

Europe traditionally has been the second biggest region for ad budgets, but in 2012 – challenged by rapid growth in China – it was overtaken by Asia-Pacific. Europe accounts for 27.2% of global adspend ($139.4bn) with Asia-Pacific on 27.3% ($140.1bn).

The three remaining global regions – Central and South America, Africa and the Middle East – account for just 12% of global adspend between them, although this is a significantly higher proportion than the 4.1% recorded ten years' ago.

Data sourced from Warc