Research also revealed that the Brazilian video advertising market should reach US$ 2.88 billion in 2023
The predominance of the video format in the digital media mix of advertisers in Latin America, compared to other parts of the world, is one of the highlights of the eMarketer/Insider Intelligence study on advertising investment in the region in 2023.
According to the survey, Brazil will contribute with some of the highest levels of investment in video advertising among 10 global advertising markets. The Brazilian video advertising market should reach US$ 2.88 billion, a volume greater than the sum of the German and French markets (US$ 1.93 billion).
The eMarketer study also showed that, in fact, digital video will surpass TV in advertising investment as public habits migrate to digital. This will happen for the first time in 2025 in Colombia and Mexico and, two years later, in Brazil.
Digital X Traditional Mdia
The internet as a whole will concentrate more than half of advertising investment in Latin America. The analysis by eMarketer/Insider Intelligence points out that the region surpassed the mark of 50% of advertising investment in the digital medium for the first time last year.
By the end of 2023, this proportion should reach 52.7%. That is, the so-called “traditional media” now represents less than half of the total advertising pie.
In terms of values, the digital advertising segment alone in the region will move US$ 17.68 billion, more than the US$ 15.69 billion invested by digital advertisers in Latin America in 2022. Mexico was the first market to cross the barrier of 50%, in 2021, followed by Brazil and Colombia, last year. Argentina and Chile should reach this mark in 2024.
deceleration
Digital advertising investment in Latin America will slow down in 2023, after two years of record growth. The uncertainties in the economic scenario, including the slowdown in growth and the persistence of high inflation, should have a negative impact on advertising budgets this year. Despite this, the region will continue to be one of the fastest growing among digital advertising markets.
Five of the six Latin American countries tracked by eMarketer/Inside Intelligence will be among the top 10 fastest growing digital advertising markets worldwide: Argentina (16%), Colombia (13%), Mexico (13%), Brazil ( 11.3%) and Chile (10.2%), all above the predicted global average, around 9.5% growth.
(Credit: Freepik)