Media Inflation: Are Advertising Costs Finally Cooling?
Global media inflation—the rising cost of advertising across the world—is expected to be slightly lower in 2024 compared with 2023, according to recent research.
Defying the Slowdown: The Rapid Rise of Ad Spend on TikTok
Advertising & Promotions — Wed., Apr. 5, 2023Research from WARC indicates that global ad revenue for video-sharing app TikTok is expected to increase by 51.7% in 2023. This is despite the wider ad market slowing, with the report based on advertising expenditure data from media owners. In 2023, TikTok's ad revenue is predicted to reach $15.2 billion, up from $10 billion in 2022 and $3.8 billion in 2021.
The report forecasts that ad spend will increase across all sectors on TikTok in 2023, even those that are predicted to experience a decrease in ad spend this year, such as automotive and soft drinks. Five categories have forecasted ad spend of more than $8.5 billion on TikTok in 2023: technology and electronics, toiletries and cosmetics, retail, clothing and accessories and telecoms and utilities.
The report was based on advertising expenditure data from media owners.
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Defying the Slowdown: The Rapid Rise of Ad Spend on TikTok
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