After surpassing half of total global ad spending this year, digital media budgets are expected to see increases across the board in 2022. A survey from Kantar also shows that the majority of traditional media budgets will not be as fortunate.
Online video ads are expected to see the biggest positive change (percentage of marketers increasing budget minus percentage of those decreasing budget). As the fastest growing digital ad type in 2021, a net of 76% of marketers and agencies expect to increase their budgets for online video in 2022.
Another popular form of online media that is expected to see a positive net change in budget next year is branded content by influencers. In the US alone, spending on influencer marketing is expected to grow by about one-third this year. Next year, a net of 71% of respondents expect to increase their spending on global branded content by influencers.
Social media is also set to see budget increases with a net 70% in respondents hiking their budgets for ads in social media stories and a net of 68% doing the same for ads in social media feeds. Other notable media types which a net majority plan to increase their spend for next year include TV ads streaming on Smart TVs (56%) and online display ads (55%), with podcast ads (45%) close behind.
Traditional Media Budgets
There are a couple of forms of traditional media that respondents overall will increase their expenditures for next year. TV media is one such area, with products integrated into TV shows (24%), TV ads (18%) and TV program sponsorship (14%) all seeing a net positive result from respondents for the coming year.
After seeing spending plummet in 2020 and recovery slow in coming in 2021, out-of-home advertising budgets are expected to see positive changes next year, with digital billboard and outdoor ads garnering a net positive budget increase of 35% of respondents and non-digital billboard and outdoor ads budget seeing a 6% net positive result by share of respondents.
Meanwhile, other traditional media budgets are set to experience negative net change. The hardest hit are expected to be newspaper ads (-55%) and magazine ads (-53%). Cinema ads (-20%), events sponsored by a brand (-18%) and radio ads (-8%) are also expected to be in the red, based on respondents’ plans.
Ad Equity Winners
Kantar also surveyed more than 14,500 global consumers in order to see which channels they ranked high in ad equity. Overall, traditional media still ranks highly among consumers, with cinema ads ranking #1 in ad equity across all media channels, followed by sponsored events (#2) and magazines (#3).
Podcast ads topped the list of online media channels for ad equity, and advertisers have seen additional benefits of podcast advertising. For example, a survey from Advertiser Perceptions found that podcasts ranked well among other forms of advertising like paid social and TV when it comes to advertising that improves brand preference and favorability.
Lastly, TikTok topped the list for ad equity in the media brand category. Marketers, on the other hand, appear to have issues trusting the rapidly growing social media platform. While about 7 in 10 consider TikTok to be innovative, only about one-quarter feel it is trustworthy.
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About the Data: Findings are based on a survey of more than 900 senior marketers from advertisers, agencies and media companies worldwide, as well as more than 14,500 consumers covering 290 brands in 23 marketers.