This is according to the latest dentsu Global Ad Spend Forecast report, the twice-yearly report, which combines data from close to 60 markets globally.
This reforecast of media investment is released in the context of escalating media price inflation, geopolitical tension, upcoming key elections, and one of the most anticipated global sports events of the year, the Fifa World Cup coinciding with the peak ‘holidays season’ for the first time.
As one of the most anticipated global sports events in 2022, the next Fifa World Cup hosted in Qatar will present a few unique factors.
The biggest difference is timing. A sporting tournament of this significance has never been staged in November and December.
Media spend around the tournament will compete with other festive advertising around Black Friday and the lead-up to religious holidays, which means the usual uplift in media budgets around the tournament may be slightly diluted this year. Yet, the World Cup is forecast to have a $2bn positive impact on ad spend.
Creative messaging will therefore be critical to stand out in this busy window, and this overlap of key media tentpoles will provide an opportunity for brands to exploit their sporting links alongside their regular festive messages.
The Arabia Standard Time and the later kick-off times intended to avoid high temperatures will favour audiences in traditional football heartlands in Europe, Africa, and the Americas.
Yet, this does not mean there will not be opportunities for brands in APAC.
For the previous tournament taking place in Europe, Euro 2020, the cumulative audience in China reached 352 million, with more fans accessing games through streaming services than through traditional TV.
Another crucial change since the last edition is the rising importance of digital media in the sport.
The number of digital interactions and views for the Euro 2020 content reached 7.5bn.
The top post from the tournament official TikTok account alone generated more than 73 million views - this for a platform which had barely launched at the time of the previous World Cup in 2018!
Advertisers willing to navigate the potentially risky path of user-generated content to encourage social conversations may see a significant return on investment.
With the geopolitical backdrop at the time of this writing being so delicate, particularly across Europe, there is a true opportunity for advertisers to use the power of media to create a message of unity, responsibility, and community around the tournament.