Global Media Planning and Buying Market Report and Forecast 2024-2032

Global Media Planning and Buying Market Outlook

The global media planning and buying market size was valued at USD 478.07 billion in 2023. The market is further projected to grow at a CAGR of 4% between 2024 and 2032.

Key Takeaways

• Online advertising reached about USD 616 million worldwide in 2022.

• In 2022, the United States was the global leader in ad spending with an impressive USD 368.1 billion, followed by China with USD 193.7 billion.

• Each month, the average internet user sees 1,707 banner ads.

• Google, Amazon, and Facebook account for 64% of all digital ad spending in United States.

Media planning is the mechanism by which advertisers decide where, when, and how often an advertisement is screened to optimise engagements and return on investments (ROI). The media strategy may divide advertisement spending and resources among different online and offline platforms, such as broadcast, print, paid ads, video ads, or native content. Media buying refers to the purchase of advertising from a media company such as a television station, a newspaper, a magazine, a blog, or a website. It also involves negotiating the price and placement of advertisements and researching the best locations for ad placement.

The global media planning and buying market is expected to grow at a significant rate in the coming years, due to several factors. One of the key drivers of media planning and buying market growth is the increasing demand for personalised and relevant content across different media platforms and devices. The rising adoption of digital and social media, especially among the younger generation, is also favourably shaping the media planning and buying market outlook.

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Key Trends and Developments

Increased digitalisation and data-driven marketing, emergence of new technologies, and expansion of influencer marketing are boosting the media planning and buying market growth

Global Media Planning and Buying Market Trends

The expansion of media planning and buying market size depends on the growth of advertising market, which is being supported by the digital channels due to the increasing presence of social media. The growing penetration of mobile phones also contributes to the expansion of overall digital advertisement spending. In the forecast period, many key players are likely to allocate higher shares of their advertising media budgets for mobile advertising because of its appeal, especially to the younger generation. Additionally, the intensifying competition in the market leads to the emergence of new brands, which raises the total advertising spending across industries.

Furthermore, the migration of consumers from television to online videos creates the demand for media planning and buying. The shift in the advertising budget from traditional to non-traditional media channels, growing focus on emerging markets, and cross-screen planning are some of the main media planning and buying trends in the market.

Other drivers include the use of artificial intelligence (AI) for media planning and buying and the rising location-based and technology-based media planning and buying, among others. Additionally, top players like WPP and Publicis are enhancing their digital capabilities by acquiring niche players in the market, which can result in higher media planning and buying market value.

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Market Segmentation

Global Media Planning and Buying market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Digital media are expected to hold significant market share as more consumers and businesses now adopt digital technologies and platform

Digital media refers to the online and interactive forms of advertising and marketing, such as websites, social media, mobile apps, email, video, etc. Digital media offers many advantages over traditional media, such as lower costs, greater reach, more personalisation, and better analytics. Digital media is growing rapidly in terms of media planning and buying market share and revenue, as more consumers and businesses now adopt digital technologies and platforms.

Traditional media refers to the conventional forms of advertising and marketing, such as television, radio, newspapers, magazines, billboards, etc. However, as per media planning and buying market analysis, traditional media is still widely used by many businesses and organisations to reach their target audiences, especially in regions where internet penetration and digital literacy are low. However, traditional media also faces challenges such as high costs, limited measurement, and declining effectiveness.

Increased expenditure on media planning by FMCG industries to create brand awareness is bolstering the media planning and buying market growth

The fast-moving consumer goods (FMCG) industry is one of the largest spenders on media planning and buying, as it relies heavily on advertising to create brand awareness and loyalty among consumers. The e-commerce industry is a fast-growing and dynamic sector that relies on media planning and buying to attract and retain customers. According to media planning and buying market report, the growth drivers for this industry include internet penetration, smartphone adoption, online payment systems, and rise of social media.

The telecom industry is expected to hold a substantial media planning and buying market share in the forecast period as the telecommunications industry uses media planning and buying to communicate its offerings and enhance its brand image. The industry is further growing due to 5G network deployment, use of internet of things (IoT), and emergence of cloud computing and artificial intelligence. The key media channels for telecom are digital, TV, print, radio, and outdoor.

The banking, financial services, and insurance (BFSI) industry is a complex and regulated sector that uses media planning and buying to build trust and loyalty among its customers. The education segment in media planning and buying market is a sector that provides learning and training services to various segments of society such as students, professionals, and organisations. The education industry is utilising media and planning to share announcements, hold live lectures, create connections with students, and engage parents in school activities.

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Competitive Landscape

Market participants are focused on expanding their international presence by engaging in mergers and acquisitions to provide new media and advertising solutions

Other key players in the global media planning and buying market include WPP plc, Omnicom Group Inc., Publicis Groupe, Interpublic Group (IPG), Havas Group, Dentsu Inc., Hakohodo DY Holding Inc., Mindshare Worldwide, MDC Partners Inc., and Acxiom LLC, among others.

Global Media Planning and Buying Market Analysis by Region

North America is one of the significant regional markets for media planning and buying due to robust advertising expenditures and presence of leading media agencies

According to media planning and buying market report, North America has the largest market for media planning and buying due to the high penetration of digital media, the advanced technology and infrastructure, the large and diverse population, and the presence of leading media agencies and advertisers in the region. Some of the key trends in the North American media planning and buying market are the shift from traditional to digital media, especially in the areas of social media, video, mobile, and advertising; the adoption of data-driven advertising, which leverages data analytics, artificial intelligence, and machine learning; the emergence of new media platforms and formats, such as connected TV, streaming services, podcasts, and influencer marketing; and the challenges of privacy, which require the media planners and buyers to comply with General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA).

Asia Pacific is the fastest-growing market for media planning and buying due to the rapid economic development and the increasing internet and mobile penetration. Some of the key trends in the Asia Pacific media planning and buying market are the dominance of digital media, especially in the areas of mobile, social, e-commerce, and gaming; the diversity and fragmentation of the media landscape, which varies by country, culture, and language; and the growth of local and niche media content, such as Bollywood, K-pop, anime, and esports, which cater to the specific tastes and preferences of the region.

Europe also holds a significant share in media planning and buying market due to the high level of media literacy, the strong media regulation, and the presence of established media agencies and advertisers in the region. Some of the key trends in the European media planning and buying market are the consolidation of the media industry, which leads to the formation of large and integrated media groups, such as Publicis, WPP, and Dentsu; emergence of new media players, such as Netflix, Amazon, and Spotify, and the implication of the media regulation, which affects the media planning and buying strategies and practices, such as the GDPR, the ePrivacy Directive, and the Digital Services Act.

Key Highlights of the Report