US Brands Will Spend 15% more on Ads than Asian and Twice more than European Companies Photo by OnlyAccounts.io
In just five years, brands and marketers worldwide have spent more than a shocking $5 trillion on advertising, including all forms of digital ads, social media channels, search advertising, and TV, video, and radio ads. In 2024, total ad spending is expected to hit an all-time high of $1.83 trillion, and most of that value will come from the US market.
According to data presented by OnlyAccounts.io, more than 40% of total ad spending in 2024, or close to $420 billion, will come from the United States.
US Brands Will Spend 15% more on Ads than Asian and Twice more than European Companies
As a home to some of the world’s biggest brands, corporations, and companies, the United States has always had a lion’s share in global ad spending. Last year, Google, Amazon, and Facebook alone generated more than 60% of global digital advertising revenue. However, other US giants like Walt Disney and Coca-Cola also spend eye-popping figures on advertising, helping the United States to lead the global chart of the biggest ad spenders.
Moreover, the difference between the total ad spending in the United States and other top markets is huge. According to Statista Market Insights, US brands and companies are expected to spend roughly $420 billion on advertising this year, $25 billion more than last year. More than half of that value will come from search and TV and video ads, the two largest revenue streams in the US advertising industry.
And while $420 billion is shocking, this figure is even more impressive when compared to total ad spending in other regions. According to Statista, Americans alone will spend 15% more on advertising than brands and companies from all over Asia. Total ad spending in this region is forecasted to hit $363 billion this year.
Statistics show the difference between the US and European markets is even bigger. European brands and companies will spend close to $200 billion on advertising in 2024, almost twice less than their US counterparts.
The United States is the Biggest Spender, but Asia is the Fastest Growing Advertising Industry
While most of the total ad spending will come from the United States, the Asian advertising industry has seen the biggest growth in the past years. In 2018, US brands spent $252 billion on advertising, making up 37.5% of the world’s total that year. Since then, the US market share has increased by 1% to 38.6% in 2024.
Asian market share has grown by more than 3% in this period. Statista data show Asian companies will generate 33.7% of the total ad spending in 2024, up from 30.6% five years ago. On the other hand, Europe saw its market share drop during this period. Back in 2028, European companies made 21.4% of the total ad spending. Since then, this figure has dropped to 18.4%
The full story and statistics can be found here: https://onlyaccounts.io/blog/more-than-40-of-total-ad-spending-in-2024-will-come-from-the-united-states/
