Media Consumption hits $219b in US, as adspend gross N150billion in Nigeria
Media spend hit $219 billion in the United States of America in 2018 according to report released by Statista. The report is based on a survey of 1000 people in the USA (aged 18+), surveyed in February 2019.
Meanwhile another report focusing on Nigeria put the total adspend in 2018 at N150billion. The report by the Advertisers’ Association of Nigeria (ADVAN) showed that over 200 brands in Ngeria generated over 150 billion as its total annual advertising spend in 2018.
According to Statista, US TV advertising slots rose during the Oscars or Super Bowl running into millions of dollars, as brands increased their budgets and also choose the right channels to reach their consumers.
The report revealed that US is one of the world’s biggest consumer markets, and is well-known for its TV and billboard advertising focus, as well as being the home of the world’s largest digital media channels: Facebook and Google.
The report further shows how brands were conscious about how consumers spend their time on various channels with the hope that their key consumers are spending time in the channels they buy media on.
The report also includes Media consumption levels across all media channels, from TV to radio, podcast to website media. Identification of key areas of opportunity for brands wanting to win the attention of certain demographics and Comparison between media channels covering consumer presence and interaction in each”
The growth in ADVAN’s ad spend comes as a result of ensuring adequate and judicious execution of all its advertising campaigns which are given out to various agencies in the Integrated Marketing Communications industry.
Recall that over N13.4 billion media advertising spend was unaccounted for in the first quarter of 2017 according to an investigation conducted by MARKETING EDGE Magazine.
The President of ADVAN, Mrs. Folake Ani-Mumuney, said that the association provides a platform for advertisers to discuss issues of common interest as well as influence developmental changes within the industry.
Enumerating some of the major achievements of ADVAN, Ani-Mumuney pointed out that the association has grown from a pressure group of just 15 members to over 70 members of thought leaders in the Marketing Communications Industry in the last 25 years.
In her words: “ADVAN members control 90% of the nation’s annual marketing spend of over 150 billion. The association has also established member’s e-knowledge center with over 100 articles on best marketing insights”
“Part of the achievements over the years is the establishment of ADVAN Marketers Day; the biggest networking platform for client-side marketers in Nigeria with an annual record of over 400 marketers in attendance”
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