GroupM Forecasts Strong 5.7% Growth in Canada's Ad Revenue

Programmatic DOOH with the Launch of Hivestack Curate

Explore GroupM's optimistic forecast for Canada's 2024 ad revenue, projecting a robust 5.7% growth, as revealed in their TYNY report.

Introduction:

GroupM, the media investment group under WPP, has recently unveiled its 2023 global end-of-year forecast, bringing promising news for Canada's advertising landscape. The eagerly anticipated "This Year, Next Year" (TYNY) report sheds light on the projections for 2024, with ad revenue in Canada set to experience a notable surge of 5.7%.

Domestic Growth and Global Outlook:

Intriguingly, the report anticipates a 4% growth in domestic ad revenue for the current year, followed by a commendable 5.7% projection for the subsequent year. However, on a global scale, the growth trajectory is expected to decelerate slightly, with a dip from 5.8% in 2023 to 5.3% in the following year. Despite this, mid-single digit growth is forecasted to persist through 2028.

TYNY Report Insights:

GroupM's TYNY report delves into the comprehensive assessment of media owners globally. Beyond merely focusing on advertising sellers, the report encompasses the perspectives of the largest ad buyers. Utilizing data from public filings and across the GroupM network, it analyzes how economic and consumer factors are likely to impact changes in advertising investment.

Shifts in Market Rankings:

A notable revelation from the December forecast is the shift in market rankings compared to June. The U.S. and China maintain their dominance as the top two markets in terms of ad revenue. Meanwhile, Canada, positioned at number nine, is expected to rise unless U.S. political ad revenue is considered separately, potentially displacing Australia for the tenth spot.

Canada's Fastest Growing Segment - AVOD:

Lindsey Talbot, Chief Investment Officer for GroupM Canada, highlights the acceleration of Ad-Supported Video on Demand (AVOD) as Canada's fastest-growing segment. With the introduction of ad-supported platforms like Crave TV, Disney+, and upcoming ads on Prime Video in Q1 2024, advertisers now have premium opportunities in the connected TV space.

Global Media Trends:

The report offers insights into global media trends, indicating that pure play digital is set to grow by 9.2% globally this year, surpassing the June forecast. However, digital growth is expected to taper off to 7.3% next year. Digital's share of global ad revenue is predicted to reach 69.4% in 2023 and escalate to 75.5% by 2028.

Outlook on Other Advertising Mediums:

Television, including Connected TV (CTV), is projected to decline to 17.9% of total global ad revenue in 2023. Total TV ad revenue is expected to remain stagnant over the next five years, growing by a mere 1.1% annually. Out-of-home (OOH) ad revenue is forecasted to grow by 10.3% in 2023, with Digital OOH expected to account for $14.2 billion USD worldwide by 2024.

Audio Advertising Landscape:

Audio ad revenue, encompassing streaming audio, is projected to total USD$26.4 billion globally this year, with a slight decline from 2022. Streaming audio, however, is anticipated to experience a five-year compound annual growth rate of 6.5%, while terrestrial audio faces a 3.1% annual decline over the same period.

Conclusion:

As GroupM paints a positive picture for Canada's ad revenue in 2024, advertisers and stakeholders can leverage these insights to navigate the evolving landscape. The TYNY report serves as a valuable resource, offering a comprehensive overview of global and domestic trends that will shape the advertising industry in the coming years.

Discover BMOutdoor: Billboard Advertising in US and Canada!

Why choose BMOutdoor for your outdoor advertising?

Consumer trust: Outdoor advertising is a trusted medium for many, standing the test of time.
Direct and captivating messages: We deliver clear and compelling messages that effectively reach your audience.
Affordable for all: We offer options that fit all budgets and types of businesses.
Sales team at your service: Our passionate sales team is ready to help you achieve your goals.

Do you need outdoor advertising? It remains effective in boosting your brand in the United States and Canada, working in collaboration with digital marketing and other channels.

Outdoor advertising services:

Our services have coverage that extends throughout the United States, Canada, and Latin America. Take your message beyond borders! Contact us today at 210-610-5012 or email customerservice@bmoutdoor.com and let us be a part of the success of your next advertising campaign

#Advertisinginaviation

#Outdooradvertising

#bmoutdoor

#Outdoorbillboards

Frequently Asked Questions About Advertising in Growth Forecast

Q: How much does outdoor advertising cost in Growth Forecast?

A: The cost of outdoor advertising in Growth Forecast starts from $2,500 CAD, varying based on factors like location, format, and duration. BM Outdoor Media offers customized solutions, including Bulletin Billboards (48'W x 14'H), Digital Bulletins (8'W x 14'H), Posters (22'8"W x 10'5"H), Junior Posters (11'W x 5'H), and Transit Advertising options such as bus advertising, shelters, and interior cards. Our team will help you select the perfect media type to fit your budget and marketing goals.

Q: How can I buy outdoor advertising space in Growth Forecast?

A: Purchasing outdoor advertising in Growth Forecast is easy with BM Outdoor Media. Select your preferred format—whether it's a Bulletin Billboard (48'W x 14'H), Digital Bulletin (8'W x 14'H), Poster (22'8"W x 10'5"H), Junior Poster (11'W x 5'H), or Transit Advertising (buses, shelters, interior cards)—with packages starting from $2,500 CAD. We handle everything from permits to installation, ensuring a seamless process.

Q: How much is a billboard ad in Growth Forecast?

A: Billboard advertising costs in Growth Forecast vary by format: Bulletin Billboards (48'W x 14'H) start from $3,800 CAD monthly, Digital Bulletins (8'W x 14'H) from $4,500 CAD, medium-sized Posters (22'8"W x 10'5"H) from $2,800 CAD, and Junior Posters (11'W x 5'H) from $2,500 CAD. Pricing depends on location, visibility, and contract duration. Contact BM Outdoor Media for competitive pricing and premium locations.

Q: What are the benefits of outdoor advertising in Growth Forecast?

A: Outdoor advertising in Growth Forecast offers 24/7 visibility, high-impact exposure, and strategic placements in high-traffic areas. With options ranging from large Bulletin Billboards (48'W x 14'H) to compact Junior Posters (11'W x 5'H) and Transit Advertising (buses, shelters, interior cards), you can select the format that best reaches your audience. Investments starting at $2,500 CAD deliver excellent ROI compared to many other advertising channels.

Q: Where can I find the best outdoor advertising locations in Growth Forecast?

A: BM Outdoor Media provides premium outdoor advertising locations in Growth Forecast's most visible and high-traffic areas. We offer Bulletin Billboards (48'W x 14'H), Digital Bulletins (8'W x 14'H), Posters (22'8"W x 10'5"H), Junior Posters (11'W x 5'H), and Transit Advertising options strategically positioned throughout the city. Prime locations start from $3,200 CAD, with our team helping you select optimal placement for maximum impact.

Q: How long should I run an outdoor advertising campaign in Growth Forecast?

A: For optimal brand exposure, we recommend running your outdoor advertising campaign in Growth Forecast for at least four weeks, with packages starting from $2,500 CAD per month for Junior Posters (11'W x 5'H) up to $4,500+ CAD for Digital Bulletins (8'W x 14'H). Longer campaigns enhance brand recognition and customer engagement, with discounts available for 3+ month commitments across all our media formats.

Q: Does BM Outdoor Media offer digital billboards in Growth Forecast?

A: Yes! BM Outdoor Media provides high-impact Digital Bulletins (8'W x 14'H) in Growth Forecast starting from $4,500 CAD monthly. These digital billboards allow for dynamic ad rotations, dayparting, and flexible messaging to maximize your campaign's effectiveness. Digital solutions offer greater flexibility, real-time campaign updates, and attention-grabbing visual impact.

Q: What outdoor advertising options are available in Growth Forecast?

A: BM Outdoor Media offers multiple formats in Growth Forecast: Bulletin Billboards (48'W x 14'H) from $3,800 CAD, Digital Bulletins (8'W x 14'H) from $4,500 CAD, Posters (22'8"W x 10'5"H) from $2,800 CAD, Junior Posters (11'W x 5'H) from $2,500 CAD, and Transit Advertising (bus exteriors, shelter ads, and interior cards) from $2,800 CAD. Each format offers unique advantages depending on your targeting needs and budget.

Q: What is the process for launching an outdoor advertising campaign in Growth Forecast?

A: BM Outdoor Media's process in Growth Forecast includes consultation, strategy development, creative design, production, installation, and ongoing campaign monitoring. We'll help you select the right format—from large Bulletin Billboards (48'W x 14'H) to Transit Advertising options—based on your objectives. With budgets starting at $2,500 CAD, we create comprehensive campaigns tailored to your specific marketing goals.

Q: How can I measure the success of my outdoor advertising campaign in Growth Forecast?

A: BM Outdoor Media provides audience analytics, traffic data, and engagement metrics to track the effectiveness of your campaign in Growth Forecast. Whether you choose Bulletin Billboards (48'W x 14'H), Digital Bulletins (8'W x 14'H), Posters (22'8"W x 10'5"H), Junior Posters (11'W x 5'H), or Transit Advertising, our reporting tools are included with all packages starting from $2,500 CAD to help quantify your advertising ROI.

Q: Can BM Outdoor Media target specific demographics in Growth Forecast?

A: Absolutely. Our diverse media formats—from large Bulletin Billboards (48'W x 14'H) to focused Transit Advertising—allow for precise demographic targeting based on traffic patterns, neighborhood demographics, and consumer behavior. For example, Transit Advertising effectively reaches urban commuters, while strategically placed Junior Posters (11'W x 5'H) can target specific neighborhoods. Targeted campaigns start from $2,900 CAD, offering better conversion rates and campaign efficiency.

Ready to elevate your brand in Growth Forecast? Contact BM Outdoor Media today for a free consultation and discover how our premium outdoor advertising solutions can transform your business.

Get Started

Latest Insights