Internet advertising is surging, but traditional media adspend is dropping precipitously in the Middle East & Africa, according to Zenith’s Advertising Expenditure Forecasts, published in March 2017.
The drop in oil prices in 2014 and political turmoil have had a major impact on the Middle East and Northern Africa region’s economies, which in turn has forced advertisers to cut back on adspend.
This accounts for Zenith’s projection of a 9% drop in adspend between 2016 and 2017, following a 10.1% decline from 2015 to 2016.
Zenith predicts the Internet adspend will hit the US$1 billion mark by 2019, but meanwhile, TV adspend is expected to drop from US$800 million in 2017 to about US$600 million in 2019. Meanwhile, outdoor is expected to drop to about US$500 million, and newspaper adspend is predicted to slide to US$100 million, Zenith reported.
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