- POSTED: 11 Jun 2014 21:53
- UPDATED: 11 Jun 2014 23:17
Digital advertising worldwide is forecast to grow significantly, according to PwC in its latest global entertainment and media outlook for 2014-2018.
SINGAPORE: Digital advertising worldwide is forecast to grow significantly.
While digital advertising accounted for some 14 per cent of all total advertising revenue in 2009, that figure is expected to more than double to 33 per cent by 2018.
That is according to PricewaterhouseCoopers (PwC) in its latest global entertainment and media outlook for 2014-2018.
PwC said total internet advertising revenue in Singapore is forecast to grow at a compound annual rate of 10.3 per cent over the five years from 2013 to hit S$330 million in 2018.
Within that segment, mobile and video advertising are seen as the fastest growing digital formats.
PwC said there is still room for internet advertising to grow in Singapore, given the high level of smartphone penetration and tech-savvy consumers.
"But what's interesting is if you compare it to some of the matured markets such as the UK or the US, it's a much lower proportion of the total advertising pie, and I think a lot of that is driven by its relatively small size and the fact that a lot of advertisers feel that they can get their messages out through traditional advertising, print and broadcasting,” said Greg Unsworth, Technology, Media and Telecommunications Industry Leader at PwC.