Traditional advertising refers to the dissemination of commercial messages through media channels to a large audience. Film, television, magazines, newspapers, outdoor, and radio advertising are the various categories of traditional advertising.
The market size for traditional advertisement globally stood at $240 billion in 2021. Traditional advertisements grew 6% in 2021 due to the recovery of business in various countries owing to the decline in COVID-19 cases, which led to an increase in demand for products and services. This resulted in an increase in traditional advertisements by companies globally.
The entry of new and small companies boosted the demand for traditional advertisement, which has been facing stiff competition from the online advertisement segment.
The traditional advertisement market globally recorded negative growth of 5.3% during 2017–2021. This indicates the growth of alternative modes of advertisement, including digital advertising. The traditional advertising market is forecast to slow down as online advertising captures a greater share and budget of the advertising market.
Companies globally spent less on advertisement as the demand decreased owing to restrictions on non-essential services due to the outbreak of the pandemic in 2020.
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