Over the past five years, brands and companies worldwide spent more than a whopping $4trn on advertising, and this figure keeps growing. In 2023, the global advertising market hit a new record, with the annual ad spending jumping over one trillion dollars for the first time, and most of that value came from the United States. According to data presented by OnlyAcounts.io, US brands spent $394bn on advertising this year, more than Chinese, UK , Japanese, and German companies combined.
Nearly 40% of Global Ad Spending in 2023 Came from the United States
As a home to some of the world’s biggest brands, corporations, and companies, the United States has always had a lion’s share in global ad spending. Amazon, Walt Disney, Coca-Cola, Walmart, and Google all spend billions of dollars on ads each year, helping the United States to lead the global chart of the biggest ad spenders.
The Statista data also show that when it comes to ad spending, the difference between the United States and other top markets is huge. In 2023, US brands and companies spent $394bn on advertising, more than the other four top markets combined. Nearly 65% of that value came from search and TV and video ads, the two largest revenue streams in the US advertising industry. US companies spent another $62bn on digital banner advertising and almost $30bn on direct messaging ads. On the other hand, influencer ads were the least interesting choice, but they still brought in roughly $5bn in total ad spending.
Chinese brands spent $180bn less than US companies, ranking as the world’s second-largest spenders in the advertising space. Far below, the United Kingdom ranked third with $55bn in total ad spending. Japan and Germany follow with $54bn and $30bn, respectively. Statista data show almost 40% of global ad spending in 2023 came from the United States, and the country is expected to have the same market share over the next five years.
The United States is the Biggest Spender, but China is the Fastest Growing Advertising Industry
And while most of the total ad spending in the next five years will come from the United States, the Chinese market is set to witness more significant growth. Statista expects US brands and companies to spend $514bn on advertising in 2028, or 30% more than this year.
The Chinese advertising industry will grow even more in this period, with total ad spending rising by 36% to $291bn. The United Kingdom and Germany will both see around 25% growth by 2028, pushing their annual ad spending to $69bn and $37bn, respectively. According to Statista, the Japanese advertising market will see the smallest ad spending increase in this period, rising by 14% to $62bn.
