According to the latest report by Prominent Advertising Agency Zenith Optimedia, the social media advertisements would soon be hitting the newspaper advertising revenue by 2020. The firm also stated that faster internet connection speeds is the reason that boomed this market this much.
Zenith Optimedia, A Prominent Advertising Agency owned by France’s Publicis released a statement on Monday stating that by 2019 the world’s 20% advertising expenditure would be inherited by internet advertisements. The forecaster also predicts that by 2020, the social media advertisements would hit the revenue of newspaper advertisements very easily. The forecaster is also very much confident that by 2020 the social media would surely take place of newspapers. The reason for this according to the firm is the way the world is moving forward towards faster internet connections leading to more and more of people to join the social networks, in turn booming the market in the end.
Jonathan Barnard who is the head of forecasting at Zenith Optimedia stated, “Social media and online video are driving continued growth in global ad spend, despite political threats to the economy,”
He also states that it is pretty much visible that how fast the firms today are moving themselves from advertising over Newspapers to social media websites like Facebook.
The report from the firm also states that global advertising expenditure will grow 4.4 percent in 2017 possibly booming the internet marketing scenario.
Online video advertising is also rapidly growing and is possibly set to reach a total of around $35.4 billion across the world by the year 2019, that is way ahead of the amount spent on radio advertising but is still far lesser than that spent over advertisement on television.
The report also shown that the online advertising growth has declined in the Middle East and North Africa but is expected to continue to grow strongly in China and much of Asia.