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17 December 2021
APAC advertising economy bounces back in 2021: Report
Asia (general region)Advertising expenditure & forecasts
The Asia Pacific advertising economy grew by +16.5% in 2021, following the dip of -0.8% in 2020, with India among the strongest performing countries as net ad sales revenue grew +14% in 2021; the marketplace is set to further accelerate in 2022 to +15% in advertising revenue – above the APAC average of +11%, according to Mediabrands resource Magna’s global advertising forecast.
Why it matters
The APAC advertising market is concentrated around the two largest markets of China and Japan with a combined 70% of total regional ad spend and ad revenues, but this has decreased slightly over the past year because China’s growth in 2021 has been slower than most APAC markets, due partly to a government crackdown on digital media owners that has crimped overall advertising revenue growth in digital formats.
Globally, media owners’ advertising revenues grew +22% in 2021 to reach a new all-time high of $710 billion, following a decline of -2.5% in 2020.
The global marketplace is now 19% larger than pre-COVID-19 levels and will continue to grow steadily in 2022 (+12%).
In 2022, the Asia Pacific ad market will expand by +11.2%, close to the global average of +12% and in line with the pre-COVID-19 long-term regional growth.
APAC growth is powered by large markets such as China (+16.7% in 2021, +8.0% expected in 2022), and India (+14.0% in 2021, +14.5% expected in 2022).
India’s ad marketplace is recovering, boosted by the adoption of non-conventional methods of media, after shrugging aside the disrupted momentum of the second COVID-19 wave.
In 2022, the strongest growth in APAC will come from India (+15%), the Philippines (+14%), China (+13%) and Malaysia (+12%), with Thailand (+3%) and Vietnam (+6%) the weakest.
“Waning fear of the virus, along with the opening of economic and leisure activities, has given a boost to demand and improved business sentiment. The Indian advertising marketplace is experiencing recovery, and the accelerated adoption of non-conventional methods by all forms of media to engage consumers is helping along the recovery path.” – Shashi Sinha, CEO, IPG Mediabrands India.