A survey by investment bank JP Morgan of the top 100 advertisers in the US shows an increasing optimistic outlook on ad spend for 2021.
Most of the advertisers (93%, up from 75% last year) reported strong demand for marketing with increasing ad spend, especially from digital and data analytics.
They say the shift of ad budgets to digital formats will continue.
Linear television is expected to be the medium of choice. Connected television may also attract incremental dollars due to its high targeting ability.
"We believe the structural headwinds, viewers’ preference shift and the effects from COVID-19 will support BVOD channels (9Now, 7plus, 10 play etc.)," say JP Morgan analysts in Australia.
"For outdoor ads, the trend of shifting towards digital outdoor will continue. The key benefits include increased consumer engagement, interactivity, and also greater targeting through leveraging data to understand customer behaviour."
According to ZenithOptimedia, the proportion of global outdoor ad spend is expected to rise to 6.1% in 2022 from 5.3% in 2020.
For Ooh!Media, the JP Morgan analysts expect retail and place segments will continue to accelerate and prioritise the digital strategy focus.
Linear and outdoor are expected to increase by +3.5% and +12% in 2021, according to Magna.
Proportion of internet ad expenditure continues to increaseat the expense of traditional media ads.
The gap between internet ad spend and traditional ad spend is expected to broaden and the analysts expect online classifieds platforms such as Carsales, REA, Domain and Seek to benefit from this tailwind.
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