J. G. Navarro
Research expert covering advertising and marketing with a focus on South America
Advertising and marketing in Uruguay – statistics & facts
A small player seems ready to swing big. It was forecast that Uruguay will rank among Latin America's fastest-growing advertising markets in 2024, with a 12.2-percent increase rate only second to Argentina – whose persistent hyperinflation tends to distort result predictions. If the estimates are confirmed, Uruguay's ad revenues will surpass 11 billion Uruguayan pesos in 2024, or almost one-fifth above the expenditure recorded two years earlier. The performance can be credited to its comparably stable economy. Uruguay's population amounts to less than one-third of Bolivia's and half of Paraguay's, yet it surpasses both in spending within Latin America's ad market.
According to other sources, only two media will experience double-digit expansion in ad revenues in Uruguay in 2024. Perhaps unsurprisingly, both consist of online formats: influencer marketing and search. The former has become an internal part of the Latin American digital advertising sector, with local internet celebrities promoting regionally as well as globally available products and services. Within this subsegment, three solutions emerge as Uruguay's highest-reaching social media ad platforms. Instagram, YouTube, and Facebook all captured the attention of slightly over 80 percent of the online advertising consumers in the South American country.
A highly digital ad market
In Uruguay, an estimated six out of 10 ad dollars will go to online advertising in 2024, emphasizing its strong digital presence. Altogether, the other three leading ad channels in Uruguay – TV, print, and direct messaging – barely surpass half of the internet's share in the industry. This follows Uruguay's rising household internet penetration rate, which soared even more after the pandemic and was expected to reach 92 percent in 2024. That exceeds many larger economies' internet access levels that year, including Taiwan, Chile, Russia, Argentina, and Brazil.According to other sources, only two media will experience double-digit expansion in ad revenues in Uruguay in 2024. Perhaps unsurprisingly, both consist of online formats: influencer marketing and search. The former has become an internal part of the Latin American digital advertising sector, with local internet celebrities promoting regionally as well as globally available products and services. Within this subsegment, three solutions emerge as Uruguay's highest-reaching social media ad platforms. Instagram, YouTube, and Facebook all captured the attention of slightly over 80 percent of the online advertising consumers in the South American country.
