Creative advertising covers all facets of advertising lifecyle ranging from ideation to actual production of the advertising
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New talent agency has been launched to help black creatives to find jobsMarch 30, 2023
Wingstop appoints 72andSunny as lead creative agencyApril 17, 2023
McKinney is the new creative AOR for PopeyesApril 06, 2023
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Creative Advertising Market Monitoring Dashboard
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Creative Advertising Industry Benchmarks
The average annual savings achieved in Creative Advertising category is 7.50%
The industry average payment terms in Creative Advertising category for the current quarter is 57.5 days
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Category Strategy and Flexibility
Price per Unit Competitiveness
Minimum Order Quality
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Creative Advertising Suppliers
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Creative Advertising Market Intelligence
global market outlook
- The global ad spend for creative advertising is expected to be valued at 220 – 250 USD Billion in 2022 growing at a rate of 15-19 percent
- Major sporting events like FIFA World Cup, Winter Olympics, Paralympics are major drivers for advertising in 2022
- Markets such as North America, Europe - UK, Germany, France, Italy, Spain and markets in APAC, such as Japan, Hong Kong, Singapore, South Korea have high market maturity.
- Top advertising networks include; Omnicom Group, WPP, The Interpublic Group of Companies, Publicis Groupe, Dentsu, Accenture Interactive, etc.
Creative Advertising market report transcript
Creative Advertising Global Market Outlook
The global ad spend for creative advertising is predicted to be valued at $222–250 billion approximately in 2023, with an estimated Y-o-Y growth of 3–5 percent
Experts predict continued growth in 2023, driven by gains from inflation rather than volume growth
Digital is forecasted to account for 57 percent of the spend approximately in 2023
Creative Advertising Global Industry Trends
- The penetration and popularity of digital and device-based platforms will continue to be popular through 2023. Brands will be seen focusing on customization and tap into the potential of the large target audience through a digital medium
Creative Advertising Global Drivers and Constraints
Increased prices driven by inflation, along with events, such as Rugby World Cup 2023 and the FIFA Women’s World Cup 2023, are expected to positively contribute toward advertising revenue in 2023.
Digital Ad Spend: The increasing importance and penetration of smartphones and social media have encouraged marketers to increase their ad spend in these channels to attract more consumers and improve their brand loyalty. Considering the changing consumer behavior, due to the COVID-19 outbreak, usage of digital platforms has gained more importance. Buyers are using this to capitalize on sales and address the pandemic situation to resonate with the audience.
Cyclical Events: Events lined up in 2023, such as Rugby World Cup 2023 and the FIFA Women’s World Cup 2023, are expected to make a significant contribution toward the advertising revenues, especially in Europe and Australia NZ markets.
- High Margins and Lack of Transparency: Network agencies continue to enjoy high profit margins due to their billing rates, which are skewed towards senior personnel. Therefore, clients face cost pressures since budgets are decreasing but agencies are unwilling to accommodate the reduced budgets.
Supply Market Outlook
Supply Trends and Insights
Increase in Digital Advertising:
Marketers are slowly shifting to global category planning to streamline their services by engaging creative agencies on the global contracts
Digital advertising spend is increasing because it reaches the same target audience with less spend compared to traditional ways. Hence, the demand for digital creative advertising is on the rise
Customization helps to increase the integrity of services and brings high level of expertise
Advertisements were created to cater to mass audience before; now, advertising has been customized to serve specific target audiences using various collaborative tools, thus reducing the cost
Experience across Industries:
- Tier-2 companies are building capability to provide a wide range of services to various sectors, such as branding, creative services, and internal communication
Innovative and Integrated Service Offerings:
Suppliers are producing performance-based contracts and service options, like production decoupling for buyers
Advertisers are increasingly using technology, i.e., digital techniques based on platforms, to have better reach and receive higher impressions
Agencies offer integrated services to clients, wherein they have access to the best mix of channels and strategy, which helps to meet the brand’s marketing objectives
In-house and Partial Outsourcing:
- Marketers seem to be interested in building in-house capabilities and consider partially outsourcing for creative advertising activities. This helps them to gain more transparency and control over the project, while saving costs in the long run.
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