Advertising - Spain | Statista Market Forecast

Ad spending in the Advertising market in Spain is forecasted to reach US$10.59bn in 2024.
The largest market within the country is TV & Video Advertising, with a market volume of US$3.52bn in 2024.
When compared globally, the United States is expected to lead in ad spending with US$425.90bn in 2024.
Within the Advertising market in Spain, 68% of total ad spending is anticipated to come from digital sources by 2030.
The average ad spending per capita in the TV & Video Advertising sector is projected to be US$74.22 in 2024.
It is estimated that Advertising market of the 91% revenue in Spain will be generated through programmatic advertising by 2030.
In Spain, digital advertising dominates the market, with a growing focus on personalized and interactive campaigns to engage target 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 Spain has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Advertising market in Spain have shifted towards digital platforms, as consumers increasingly spend more time online. This change in behavior has led to a surge in digital advertising, with businesses investing heavily in online advertising channels to reach their target audience. Additionally, there is a growing demand for personalized and interactive advertisements that engage consumers and provide a more immersive experience. This has prompted advertisers to adopt new technologies and innovative approaches to deliver impactful campaigns. Trends in the market reflect the increasing importance of data-driven advertising strategies. Advertisers are leveraging big data and analytics to gain insights into consumer behavior and preferences, allowing them to create more targeted and relevant advertisements. Programmatic advertising, which uses automated technology to buy and sell ad inventory, has also gained traction in Spain. This approach enables advertisers to reach their desired audience more efficiently and optimize their advertising spend. Another trend in the Advertising market in Spain is the growing influence of social media platforms. With a large percentage of the population actively using social media, platforms such as Facebook, Instagram, and Twitter have become valuable advertising channels. Advertisers are leveraging the reach and targeting capabilities of these platforms to connect with their target audience and generate brand awareness. Influencer marketing is also on the rise, with businesses partnering with popular social media influencers to promote their products or services. Local special circumstances play a role in shaping the Advertising market in Spain. The country has a vibrant creative industry, with a rich heritage in art and design. This creative culture has contributed to the development of innovative and visually appealing advertisements that capture the attention of consumers. Additionally, Spain has a strong tourism industry, attracting millions of visitors each year. This presents opportunities for advertisers to target both domestic and international tourists through advertising campaigns that showcase the country's attractions and experiences. Underlying macroeconomic factors also influence the Advertising market in Spain. The country has experienced steady economic growth in recent years, which has boosted consumer confidence and spending power. This has translated into increased advertising budgets for businesses, as they seek to capitalize on the growing consumer demand. Furthermore, Spain has a large and diverse population, offering advertisers a wide range of target segments to reach and engage. In conclusion, the Advertising market in Spain is evolving to meet the changing customer preferences and emerging trends in the market. The shift towards digital platforms, data-driven strategies, and social media advertising are driving the growth of the market. The country's creative culture, strong tourism industry, and favorable macroeconomic conditions further contribute to the development of the Advertising market in Spain.

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.