Predicted Growth in advertising investment for 2022
According to the latest “Global Ad Spend Forecast” report, advertising investment is predicted to grow by 9.2% across the year. This will mark the second consecutive year of growth and is 4.7 percentage points higher than OECD Economic Outlook projection for real GDP growth. It is predicted that TV and Digital will be the powerhouses to drive ad-spend, however, OOH and Cinema will also have a large growth in spend with an increase of 12.8% and 23.4% respectively.
Why is this important?
This increase in spend can be seen as a sign of recovery following the market disruption caused by the covid-19 pandemic, this follows a record breaking ad spend over the Christmas period in the UK. It is predicted that confidence in travel and automotive sectors will rise, resulting in an ad-spend increase for these industries.
Google Ads launches placement reports for performance max campaigns
These new reports can be generated to see where ads have served for Performance Max campaigns and how many impressions they have received. Performance Max campaigns are new and only became available for all advertisers in November 2021.
Why is this important?
Google has created this placement report to provide some insight into where Performance Max ads are showing, which may help advertisers with their brand safety efforts. Unfortunately, the data only shows where the ads have served and not click data, however may help inform campaigns.
Instagram testing new fan subscription feature
Instagram has launched a trial of a new feature alongside some of the most prominent creators on the platform, allowing them to charge fans an optional monthly subscription fee which in turn will provide them with some exclusive benefits. Paying members will have access to subscriber-only lives, stories, and badges, in an effort to give them access to more exclusive engagement with their favourite creators.
Why is this important?
Meta has also stated that no cut of these subscription fees will be taken by them until at least 2023. Instagram will be hoping that with the ever-growing presence and popularity of short-form video, this new feature will provide more incentive to both new and current creators to use them as their main content posting platform rather than being lured over to TikTok or Youtube.
Campaign of the Week: WACL launches large Outdoor campaign for female mentoring programme
WACL is the gender equality group for advertising and communications, on the 31st of January they are set to launch their biggest mentoring programme which will support the next generation of female leaders.
The programme will be an opportunity for women in the UK advertising industry to discuss any barriers to success they may be facing and will aim to inspire and support their career progression. £500,000 of outdoor space has been donated by Clear Channel, Ocean Outdoor, Open Media and JCDecaux and the campaign will run across digital six-sheets and large-format screens in cities across the UK.
The four-month mentorship programme will aim to address any inequalities women in the ad industry may be facing and demonstrates that there is drive amongst the sector to rectify these issues.
