Television represents one of the most popular modes of advertising. Some of the factors contributing to the growth of the global television advertising market are advancements in technology, strong emotional impact on the consumers, increasing penetration of television sets across emerging regions, etc.
IMARC Group’s report, “Global Television (TV) Advertising Market Report & Forecast 2018-2023”, finds that the global television advertising market reached a value of US$ 242 Billion in 2017, growing at a CAGR of 6.8% during 2010-2017. The primary factor which has led to this growth is the rising number of television sets, especially in the emerging markets. In recent times, the sales of television sets have increased immensely, as around 1.6 Billion households are estimated to own at least one television set. Consequently, the advertisers have gained an opportunity to capture the attention of a huge section of the audience on a single platform and endorse their products and services. Considering the growing popularity of television advertising in the emerging regions, the report further predicts global television (tv) advertising market to reach a value of US$ 353 Billion by 2023.
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The report analyses the market trends of television advertising and evaluates the influences which have led this market to overtake other mediums of advertising. Television advertising synthesizes sound with visual graphics which prompt a powerful emotional impact on the viewers and tends to create a lasting impression on their mind. This substitutes for the psychological impact extended by print-advertising or radio-advertising as these target only the optical senses and auditory senses respectively, thereby failing to have a powerful overall impression. Television advertising also facilitates the advertisers to devise ad-content bearing in mind the needs and demands of the target audience.
The report makes a thorough evaluation of the market on the basis of service types which are market segmentation as terrestrial, multi-channel and online television. Although the terrestrial network owns the largest market share, online television emerges as the fastest growing medium of television advertising. Further, the report provides a segmentation of the key regions which include North America, Asia-Pacific, Western Europe, Latin America, Eastern Europe and Middle East & Africa. Currently, North America represents the largest market for television advertising. The report has also covered the competitive landscape of the market with the key players being CBS, Comcast, News Corporation, Viacom and Cox Communications.
This report provides a deep insight into the global television advertising market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, key market drivers and challenges, recent trends, Porter’s five forces analysis, television advertising pricing models, margins in television advertising, etc. This report is a must-read for entrepreneurs, researchers, consultants, investors, business strategists, and all those who have any kind of stake or are planning to foray into the television advertising industry in any manner.
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