Advertising - Belgium | Statista Market Forecast

Ad spending in Belgium's Advertising market is forecasted to reach US$3.43bn in 2024.
The largest market in Belgium is TV & Video Advertising with a market volume of US$1.09bn in 2024.
When comparing globally, the United States will lead in ad spending with US$425.90bn in 2024.
Within the Advertising market of Belgium, 60% of total ad spending will come from digital sources by 2030.
The average ad spending per capita in the TV & Video Advertising market of Belgium is expected to be US$92.68 in 2024.
Moreover, in Belgium's Advertising market, Advertising market of the 75% revenue will be generated through programmatic advertising by 2030.
Belgian advertising agencies are increasingly leveraging digital platforms and data analytics to deliver targeted and personalized campaigns to their clients.

Definition:
Advertising spending refers to expenses for promotional strategies with which brands or businesses purchase advertising space to promote products or services. The primary purposes of advertising include creating awareness, generating interest, and persuading consumers to take a particular action such as purchasing a product, visiting a website, or supporting brands. Advertisers use advertising to reach their target audience while media companies and advertising agencies use it as a source of income.

Structure:
The advertising spending consists of two main channels (traditional advertising and digital advertising). Traditional Advertising refers to above-the-line media that delivers commercial messages to broad audiences. This includes mass media such as traditional TV, traditional radio, printed newspapers, printed magazines, and traditional out-of-home (OOH) advertising formats. Digital Advertising uses the internet to deliver marketing messages to internet users in various forms. This includes digital video, search engine, social media, digital out-of-home, digital banner, digital audio, digital classifieds, and influencer advertising.

Additional information:
The market comprises advertising spending, share by advertising channel, users, average revenue per user, advertising share by industry, ad spending by medium, and digital ad spending share (programmatic and non-programmatic). The market only displays B2B spending and users for the above-mentioned channels. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions for each market can be found on the respective pages. For more information on the data displayed, use the info button right next to the boxes.

Traditional advertising such as non-digital ads for TV and radio, as well as out-of-home advertising and print advertising
Digital advertising such as online ads for video, banner, audio, classifieds, and search engines, as well as digital out-of-home, social media, in-app, and connected TV advertising
Influencer advertising

Sponsorships/events and promotion
Product placement
Commission-based affiliate systems

The Advertising market in Belgium has been experiencing steady growth in recent years, driven by changing customer preferences and the increasing importance of digital advertising. Customer preferences in the advertising market have shifted towards digital platforms, as consumers spend more time online and on mobile devices. This has led to a rise in digital advertising, including search engine marketing, social media advertising, and display advertising. Advertisers are increasingly investing in digital channels to reach their target audience more effectively and efficiently. Another trend in the market is the growing demand for personalized and targeted advertising. With the availability of data and advanced analytics, advertisers are able to segment their audience and deliver tailored messages to specific consumer groups. This allows for more relevant and engaging advertising campaigns, which can lead to higher conversion rates and return on investment. In addition to digital advertising, traditional forms of advertising such as television, radio, and print media still play a significant role in Belgium. While their market share has declined in recent years, they continue to be important channels for reaching certain demographics and geographic areas. Advertisers often use a combination of digital and traditional advertising to maximize their reach and impact. Local special circumstances in Belgium also contribute to the development of the advertising market. Belgium has a highly developed media industry, with a wide range of television channels, radio stations, and print publications. This provides advertisers with a diverse range of options for reaching their target audience. Furthermore, Belgium is known for its strong creative industry, with many talented advertising agencies and production companies. This creative talent pool helps to drive innovation and produce high-quality advertising campaigns that resonate with consumers. Underlying macroeconomic factors also play a role in the development of the advertising market in Belgium. The country has a stable economy and a high standard of living, which creates a favorable environment for advertising spending. Advertisers are willing to invest in advertising to promote their products and services to the affluent Belgian population. Overall, the Advertising market in Belgium is developing in response to changing customer preferences, with a shift towards digital advertising and personalized campaigns. The local special circumstances, including a highly developed media industry and a strong creative talent pool, contribute to the growth of the market. Additionally, the stable economy and high standard of living in Belgium provide a favorable environment for advertising spending.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for traditional and digital advertisements.

Modeling approach:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, consumer spending, and digital consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year. In some cases, the data is updated on an ad-hoc basis (e.g., when new relevant data has been released or significant changes within the market have an impact on the projected development).

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

All advertising markets across the globe win, yet some win more than others. Ad spending worldwide reached almost 733 billion U.S. dollars in 2023, up less than three percent from the previous year. For comparison, in 2022, Switzerland ranked 20th among the leading economies by gross domestic product (GDP) with a result exceeding 800 billion dollars. Whereas global ad revenues concentrate in areas with either large populations or high purchase power – preferably both – their evolution depends on a larger set of indicators. It was forecast that, in 2024, South Asia will be the world's fastest-growing ad market, and the only out of nine with a double-digit increase rate: 12.1 percent. The second-placed region, comprising the United States and Canada, was projected to see its ad expenditure rise 7.6 percent.