A year of crackdowns and mixed economic fortunes in APAC makes the region the lowest performer globally in 2021, as powerhouse China's growth rate falters.
Latest Magna global advertising forecast predicts 12.8% APAC growth in 2021 led by China, with India predicted to outpace all global markets next year.
Magna global advertising forecast predicts a record 13.5% rise in ad spend in 2021 to all-time high of $657 billion, led by strong gains in the UK, China and US.
Robust digital spending fuelled by small businesses propelled growth, leading GroupM, Magna and Zenith to revise their forecasts upward.
Digital advertising is expected to grow by 8% to $336 billion in 2020, but this is not enough to counter an 18% decline in linear advertising, according to IPG's research arm.
Total advertising revenue for media owners will shrink 7.2% for the year, before recovering +6.1% in 2021, according to the latest Magna forecast.
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