Advertising - Mexico | Statista Market Forecast

Ad spending in the Advertising market of Mexico is forecasted to reach US$10.27bn in 2024.
The largest market is TV & Video Advertising with a market volume of US$4.30bn in 2024.
When compared globally, the highest ad spending is expected to be generated the United States (US$425.90bn in 2024).
Within the Advertising market of Mexico, 67% of total ad spending will come from digital advertising in 2030.
The average ad spending per capita in the TV & Video Advertising sector is projected to be US$33.21 in 2024.
Moreover, in the Advertising market of Mexico, Advertising market of the 84% revenue will be derived from programmatic advertising in 2030.
In Mexico, digital advertising continues to surge, with a growing focus on targeted social media campaigns to reach specific audiences effectively.

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 Mexico has been experiencing significant growth in recent years, driven by changing customer preferences and the local special circumstances of the country. Customer preferences in the Advertising market in Mexico have shifted towards digital and mobile advertising. With the increasing penetration of smartphones and internet access, consumers are spending more time online and advertisers are recognizing the effectiveness of digital platforms in reaching their target audience. This shift in preferences has led to a surge in digital advertising spending, with companies allocating larger portions of their budgets to online campaigns. Additionally, customers are showing a preference for personalized and targeted advertising, as they value relevance and engagement in their interactions with brands. Advertisers are responding to this demand by leveraging data analytics and advanced targeting techniques to deliver tailored messages to their customers. Trends in the Advertising market in Mexico are also influenced by global and regional market dynamics. The rise of social media platforms and influencer marketing has had a significant impact on the industry. Brands are increasingly partnering with social media influencers to promote their products and services, as they recognize the power of these platforms in reaching and engaging with their target audience. This trend is particularly prominent among younger demographics, who are more likely to trust recommendations from influencers and engage with branded content on social media. As a result, companies are allocating more of their advertising budgets towards influencer marketing campaigns. Local special circumstances in Mexico also contribute to the development of the Advertising market. Mexico has a large and growing population, making it an attractive market for advertisers. The country also has a strong media industry, with a wide range of television, radio, and print outlets. This diverse media landscape provides advertisers with multiple channels to reach their target audience and allows for a variety of advertising formats. Additionally, Mexico has a vibrant and creative advertising industry, with many talented professionals and agencies. This local expertise and creativity contribute to the development of innovative and impactful advertising campaigns. Underlying macroeconomic factors also play a role in the growth of the Advertising market in Mexico. The country has experienced steady economic growth in recent years, which has led to increased consumer spending and business investment. As companies expand their operations and seek to gain market share, they are investing in advertising to raise brand awareness and attract customers. Additionally, Mexico has a young and growing population, which presents a large and untapped market for advertisers. This demographic trend, combined with rising disposable incomes, creates opportunities for companies to target new customers and expand their customer base. In conclusion, the Advertising market in Mexico is developing in response to changing customer preferences, global and regional market trends, local special circumstances, and underlying macroeconomic factors. The shift towards digital and mobile advertising, the rise of social media and influencer marketing, the diverse media landscape, the creative advertising industry, and the growing population and economy all contribute to the growth and development of the market. Advertisers in Mexico are leveraging these factors to create impactful and targeted campaigns that resonate with their customers and drive business growth.

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.