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Spending on television advertisements continues to decline globally.
According to a StockApps.com data presentation, TV advert spending accounts for 28.3% of the global advert budget. The figure is a 2.6% drop from 2020’s totals.
Over the years, TV has been a key ally to the advertising industry. However, the medium is no longer the dominant source of news and entertainment globally.
Changing viewing habits
Commenting on the recent findings, Stockapps.com’s Edith Reads said, "In recent years, people's viewing habits have switched to on-demand programming. Consequently, global TV ad expenditure has been steadily dropping."
Reads added, "the major issue that affects TV ads is the world's digitalization. Most people prefer to advertise their products on social sites, search engines, or short videos on various handles of influencers. Therefore, it is not surprising to see the continuous decline in TV global ads."
The world sports calendar might drive the share up
This year's sports calendar is a very active one, with major sporting activities that will have television broadcasts. The sporting events will increase TV viewers across various populations, especially young adults. These events will then pull marketers who might capitalize on the viewership to advertise their products.
Sporting events like the UEFA European Football Championships, the Qatar Worldcup, Winter Paralympics, and the Commonwealth Games are likely to drive TV commercial spending. Growth in 2022 is predicted to return to pre-pandemic spending levels.
