Internet closes in on TV as Asia Pacific ad revenues hit US$170BN
Advertising revenues in 14 Asia Pacific markets grew by 6.8% to reach US$170 billion net in 2016, with the Web overtaking TV as the favoured medium in some, according to a Media Partners Asia (MPA) report.
MPA said the growth compares with 8.5% expansion in 2015, and forecasts ad spend across these markets will increase by another 6.4% in 2017 with a 4.9% CAGR expected between 2017 and 2022.
India, which is set to become the region’s best performing market, is expected to overtake Australia as the region’s third largest ad market by 2022, after China and Japan. Australia will fall to fourth place, while Korea will remain in fifth, said the analyst. China, the region’s biggest advertising market, will see net ad revenue reach US$121 billion by 2022, from US$90 billion in 2017, said MPA.
‘Future growth is becoming more challenged, as markets mature and working populations stagnate or decline. This leaves China and India as the main dynamos of advertising growth. While Indonesia, the Philippines and Thailand are also important growth economies, they lag China and India in scale. Growth trajectories for the region’s other scale markets, Australia, Japan and Korea, are markedly lower than they have been in the past, especially for Korea,’ said Vivek Couto, executive director, MPA.
Advertising on the Internet climbed 20.8% in 2016 to raise US$66 billion across the 14 markets in MPA’s report. It became the biggest medium for advertising in Australia, China, Korea, New Zealand and Taiwan in 2016, and by 2022, Hong Kong, Japan and Singapore are forecast to join their ranks. …
… read on at rapidtvnews.com
Originally posted by Rebecca Hawkes at Rapid TV News
12th April 2017
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