The latest WARC report highlights global spend trends for “IRL advertising” - out-of-home and cinema media.
According to forecasts, the global ad spends for IRL will reach $44.4 billion in 2022, marginally less than $45.1 billion spent in 2019. The figures, however, are still outpacing consumer return to pre-pandemic in-person activities.
The recovery from the pandemic is forecast to continue into 2023. As a result, the global IRL ad market will reach $47.1 billion in 2023. In the first quarter of 2022, global spend on out-of-home advertising will jump by 16.5% YoY. The annual global ad spend on cinema ad, on the other hand, is forecast to reach $3.4 billion this year.
The study is based on WARC’s IRL global forecasts and analysis of global consumer behaviour based on The Economist’s Normalcy Index. This index tracks public activity across transportation, recreation, retail and work relative to pre-pandemic levels.
[2 minute read]