Newspaper advertising market to reach US$33.35bn this year
By Ibidunni Banjoko
The global landscape of newspaper advertising is undergoing significant shifts, with projections indicating both challenges and opportunities for stakeholders in the industry, as a world market research platform, Statista forecast the market to reach a substantial figure of US$33.35 billion in 2024.
However, the growth trajectory is expected to exhibit a declining trend, with an anticipated annual growth rate (CAGR 2024-2028) of -5.09%.
The United States is poised to dominate revenue generation in the newspaper advertising market, with a projected market volume of US$5,024 million in 2024. This underscores the significance of the U.S. market in driving advertising expenditures within the newspaper segment.
Despite the challenges posed by digital media and evolving consumer preferences, the number of readers in the newspaper advertising market is anticipated to grow. By 2028, the user base is expected to amount to 1.0 billion users, highlighting the enduring appeal and relevance of newspapers as a medium for disseminating information.
The average ad spending per reader is a critical metric that sheds light on advertisers’ investment per individual reached. In 2024, the projected average ad spending per reader in the newspaper advertising market is estimated at US$26.82, reflecting the value advertisers attribute to engaging newspaper audiences.
While these projections offer valuable insights into the trajectory of the newspaper advertising market, it’s essential to acknowledge the dynamic nature of the media landscape. Factors such as technological advancements, shifting consumer behaviours, and regulatory developments will continue to shape the future trajectory of newspaper advertising, prompting stakeholders to adapt and innovate in response to evolving market dynamics.
Newspaper advertising has been the longest-running form of advertising available for businesses to market their products and services.
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