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Posted on: 12 Jan, 2024, 11:01 AM

Key Tech Firms to Reshape the Landscape with Over Half of Global Ad Spending

12-01-2024
While reports highlight the dominant role that digital ad formats (display, video, search and social) play in global media strategies, an examination of this year's trends reveals a noteworthy development. Five major tech companies -Alibaba, Alphabet, Amazon, TikTok owner ByteDance, and Meta - will likely control over half (51.9%) of global advertising spending in 2024. This points to a new era, highlighting the concentrated influence of tech leaders in shaping the course of advertising trends worldwide.
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US and China to Account for 70% of Influencer Ad Spending in 2024

In 2024, according to Statista data, the US and China are expected to account for 70% of global influencer advertising expenditure. China's spending in this area is projected to reach $19.1 billion, reflecting a $2.3 billion increase from the previous year. In contrast, the US will see a smaller increase, with its total influencer advertising spending anticipated to be $5.6 billion in 2024.


Source: Marketing Interactive

72% of Global Marketers Set for Bigger Ad Budgets in 2024 Despite Economic Challenges

Despite economic headwinds, 72% of global marketers are poised to increase their ad budgets in 2024, a significant jump from last year's 64%, according to Nielsen's latest report. This optimism is especially strong in Asia-Pacific, with 81% expecting budget hikes compared to 56% in the previous year.


Source: Financial Express

Advertising Regulations and Compliance in Kuwait

In Kuwait, advertising is regulated under several laws, with oversight by the Kuwait Municipality, Communication and Information Technology Regulatory Authority (CITRA), and the Ministry of Information. Key aspects of advertising regulation in Kuwait include:

Content Restrictions: Advertising must not harm public morals or order and must not promote prohibited products such as alcohol, narcotics, or gambling. Furthermore, advertising must not include statements or content that could be deemed offensive to religious sensibilities or national leadership.
Language and Cultural Considerations: All advertising must be in Arabic, though other languages can be included provided they do not overshadow the Arabic content. Advertisements must respect Islamic and national values, reflecting local cultural norms.
Comparative and Deceptive Advertising: Kuwaiti law allows for comparative advertising provided it does not mislead or deceive. Advertisements should not unfairly criticize competitors' products or services, and all claims must be substantiated.
Regulatory Oversight and Enforcement: CITRA and the Ministry of Information monitor and enforce advertising standards. Violations can result in fines, suspension of business activities, or other legal actions depending on the severity of the offense.

These regulations ensure that advertising respects cultural values and consumer protection laws, maintaining ethical standards across all forms of media. Compliance with these guidelines is crucial for any business operating in Kuwait to avoid legal pitfalls and maintain good standing within the regulatory framework.

Key Advertising Regulations in Bahrain

In Bahrain, the advertising landscape is shaped by various regulations emphasizing cultural respect, legal compliance, and specific industry guidelines:

General Advertising Regulations:
Press, Printing, and Publishing Law (PPP Law) No. 47 of 2002: This law encompasses all audio, visual, print, and digital content, mandating adherence to norms that protect public order and the principles of Islam, prohibiting content that could be deemed offensive to public morals or the political structure of Bahrain​​.
Media Content Regulation:
Resolution No. 1 of 2015: This resolution supplements the PPP Law, requiring all media content to be respectful of Bahrain's government and its relations with allied countries. It also sets guidelines for maintaining national unity and public ethics, including prohibitions against offensive material​​.
Specific Industry Regulations:
Various sectors such as financial services, healthcare, and telecommunications have their own specific advertising regulations, necessitating prior approvals for advertising certain products or services​​.
Billboard Advertising:
Law No. 14 of 1973 on the Advertisements Law: Primarily focuses on the licensing processes required before installing billboard advertisements, aiming to regulate the visual landscape and ensure content suitability​​.
Self-Regulation and Enforcement:
While there is no primary self-regulatory advertising system in Bahrain, the enforcement of these laws typically follows a reactive model, where actions are taken based on public complaints, guided by the Ministry of Information Affairs (MOIA) and the Telecommunications Regulatory Authority (TRA)​​.

Understanding these frameworks is crucial for advertising effectively and legally in Bahrain, ensuring that campaigns are not only compliant with the letter of the law but also aligned with local cultural and ethical standards.

Elevate Your Brand in 2024 with Times Square's Top 3D Screens!

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Google's Gemini AI Unveils a New Era for Search Ads in Africa

Google's Gemini AI, an innovative tool for Search Ads, is now fully accessible to businesses across Africa. This AI-powered advertising solution simplifies ad creation, enhancing online visibility for companies of all sizes. Particularly in Sub-Saharan Africa, where internet usage is growing, Google Gemini offers a conversational AI experience that streamlines digital marketing efforts. It's designed to boost customer engagement online, providing accessible advertising solutions. By leveraging tech advancements like Google Ads innovations, businesses can tap into effective advertising strategies, fostering online business growth in Africa.


Source: Okay.ng

US Programmatic Ad Spend to Jump 15.9% in 2024, Fueled by Video Growth

In 2024, programmatic digital display ad spending in the US is expected to rise by 15.9 per cent, surpassing the growth of non programmatic ads by three times. According to Insider Intelligence's forecast, at least 90 per cent of digital display ad dollars will shift towards programmatic approaches this year. Looking ahead to 2025, US programmatic digital display ad spend is projected to grow by 13.3 per cent, reaching $178.25 billion, driven by the popularity of video formats on ad-supported streaming TV and video-on-demand tiers. This reflects the changing landscape of digital advertising, where the efficiency of programmatic methods and the increasing prevalence of video content on ad-supported platforms are key factors.


Source: Insider Intelligence

Disney's Game-Changing Ads: Unleashing AI for Personalised Impact

Walt Disney is setting a new standard in the world of advertising with its groundbreaking AI-powered tool, nicknamed as "Disney's Magic Words." This innovative approach to ads on Disney+ and Hulu streaming platforms marks a significant leap forward. By using artificial intelligence and machine learning, Disney is enabling brands to personalise commercials by aligning with the mood of specific scenes within a movie or television series, enhancing viewer engagement. The collaboration with Omnicom Media Group in the early beta test underscores the potential of this technology to redefine brand personalisation in advertising. The feature, leverages viewer mood targeting advertising, offering a unique opportunity for advertisers to connect with audiences on a more emotional level, promising a game-changing impact on the effectiveness of ads within the ever-evolving digital landscape.

Source : Reuters

UK's Small and Medium Businesses Place Stronger Trust in Digital Advertising

In the UK, trust in digital advertising among small and medium-sized businesses has increased by 24 percentage points in the last three years. Currently, 74% of these businesses express trust in digital advertising, marking an almost 50% rise from the trust levels recorded in 2020. These findings are from a 2023 research study conducted by IAB UK in collaboration with the research agency MTM.


Source: iab UK

China's Luxury Market Rebounds, LVMH Reports Over 30% Surge

China's luxury market is witnessing a resurgence, although it has not yet reached 2021 levels. Insights from industry analysts and the financial reports of major brands indicate emerging growth opportunities compared to pre-pandemic patterns. LVMH, the latest luxury player to unveil its 2023 results, disclosed a remarkable surge of over 30% in fashion and leather goods sales in China for December.
Source: CNBC

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Shine Bright in Times Square: Your Unforgettable Brand Showcase!

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Unlock Connectivity in the UAE with Wi-Fi Advertising!

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Unleash your brand's potential at Piccadilly Lights in London!

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