Just as Asia-Pacific economies have been less vulnerable to consumer price swings in the past year, its media market appears set to continue with more stable, moderate gains in the coming year.
According to ECI Media Management’s 2023 Media Inflation Report, APAC media inflation is forecast to edge up to 4% in 2023, up from 3.8% in 2022, making it the only region globally to expect an increase. APAC's outlook is also forecasted at the lowest level of all global regions, with higher media inflation expected in North America (4.2%) and EMEA (4.9%) and much higher levels in Latin America (8.4%).
India is expected to have relatively high media inflation in 2023, but will be offset by continued softness in China, according to ECI.
Unlike other regions, TV has not been the main driver of higher prices in Asia-Pacific, with online video inflation (4.5%) expected to outpace TV (4.3%). Comparatively, media inflation across other media types is forecast to reach: 4.0% (online display); 3.3% (out of home); 2.2% (radio); 2.1% (newspapers) and -0.2% (magazines).
TV prices will continue to lead media inflation globally at 6.8%, but with fewer big sports and political event in 2023, this inflation level reflects a three-year low. Online video (5.1%) and OOH (3.8%) inflation will be the be next-highest globally, followed by radio (3.2%) and online display (2.8%). For the first time in a while, ECI says, new newspapers (1.7%) and magazines (0.8%) once again look set to inflate globally after past declines.
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