After a reversal last year, global ad spending is forecast to snap back from the pandemic even faster than previously predicted, GroupM said in its latest forecast.
Last year, global ad spending slipped 3.5% to $628 billion.
Multinational and international marketers, such as Chinese companies spending abroad, are also accelerating digital ad spending, he added.
Last year, the top five ad sellers—Google, Facebook, Amazon, Alibaba and ByteDance—generated $296 billion in ad revenue, or 46% of global ad spending, according to the report.
Ten years earlier, the top five ad sellers—Google; Viacom and CBS; News Corp. and Fox; Comcast, and Disney —collected only 17% of global ad spending, GroupM said.
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