Marketers prefer digital advertising instead of print media

According to a recent study, advertising on social media platforms overtakes print media for the first time in global ad spending. According to the forecast by Zenithmedia, this year the advertising spent on social media will overtake print media for the first time in the world. According to the Advertising Expenditure Forecast estimate by the media agency, the spending on social media advertising is expected to jump 20% to $84 billion this year whereas newspaper and magazine spending will see a fall in its advertising of 6% to $69 billion. The expand in the growth on social media advertisements will make the share of social media’s global ad spend to 13% making it the third-biggest ad channel behind the TV (29%) and paid search (17%) this year. There is also expected growth in paid search by 8% from $107 billion in 2019 to $132 billion by 2021 when it will make 18% of total ad spending. The advertising on TV is expected to decline this year due to a decrease in ratings in key markets and it is expected to fall to $180 billion by 2021 from $182 billion this year. According to Zenith, they also saw a downgrade in its estimate of global media spending growth to 4.4% from an earlier forecast of 4.6% to a total of $640 billion. According to a forecast by Zenith, annual spending growth is expected to remain steady at 4.3% to 4.4% through 2021.