[Marketing Week] Bob Koigi: Global advertising agencies market rebounds from shocks to record growth

[Marketing Week] Bob Koigi: Global advertising agencies market rebounds from shocks to record growth

13-07-2021 14:30:00 | Hits: 394 | columnist: Bob Koigi | Tags:

The advertising industry is headed for more growth as companies rearrange their operations and recover from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.

According to a report by Research and Markets, The global advertising agencies market is expected to grow from $317.63 billion in 2020 to $348.4 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%.

The advertising agencies market consists of the sales of advertising services and related goods by entities (organizations, sole traders and partnerships) that plan, develop, create and manage advertisement and promotional activities in newspapers, radio, television, websites and social media sites. 

On the acquisition front, Global data, measurement and analytics company, Nielsen, has acquired TVTY, a TV attribution provider and ad monitoring company based in Paris, France.

TVTY brings a wide range of outcomes capabilities that improve TV campaign execution. TVTY’s solutions enable advertisers and agencies to seamlessly optimize their spend based on the outcomes most important to their business. TVTY will complement and expand Nielsen’s TV Attribution and Ad Intel services. 

Kantar, the global data-driven insights and consulting company, has also completed its acquisition of Numerator, the Chicago-based, tech-driven consumer and market intelligence company from Vista Equity Partners.

Numerator blends proprietary data, including a digital panel of over one million U.S. consumers, with advanced technology to create unique insights that help companies understand their customers in real time and identify growth opportunities.

And Dentsu Group Inc. has entered an agreement to acquire LiveArea, a global customer experience and commerce agency, subject to customary closing conditions. LiveArea is a division of PFSweb Inc.

LiveArea will join Merkle, a technology-enabled, data-driven customer experience management (CXM) company within Dentsu Group’s international business, Dentsu International.

Elsewhere, Publicis Media has announced that it is embarking on a multi-year, industrywide initiative to remove industry barriers to equitable financial opportunity and representation of underserved and ethnically-diverse suppliers, ultimately helping marketers uncover opportunities that more closely mirror their brand values and drive growth with audiences in a multicultural world.

VMLY&R COMMERCE has announced the addition of TJ Reilly to the North America leadership team as EVP of Performance Media as it addresses the rapid ecommerce acceleration.  

Effective immediately, TJ will be responsible for overseeing a customer-centric media approach to commerce channels, optimizing acquisition and performance growth for clients end to end.  

Bob Koigi is an editor at Marketing Report EU

 

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