www.business-review.eu Business Review | July 2021
32 ADVERTISING
The post-pandemic wave in the marcomm industry According to statista.com, the marketing and advertising sectors have always been fueling one another. Market analyses show that the global advertising industry is on the rise and projected to grow by 5.9 percent in 2021. By Romanita Oprea
Tereza Tranakas, Oxygen
M
Hortensia Nastase, Lowe Group
Roxana Sava, Pastel
arketing and advertising research
vertisers, will be overtaken by digital media.
mean so many things for both businesses and
expert A. Guttmann, working for
Between 2020 and 2022, TV is forecast to gain
people. And, of course, this has wide-ranging
Statista, wrote that the global
only around USD 2.6 billion, while mobile
ramifications for the marcomm industry as
advertising market experienced some fairly
internet is expected to gain USD 48 billion
well.
turbulent times between 2000 and 2010,
in the same period. Most of major media are
seeing growth rates as high as 11.4 percent as
projected to see small gains in investments
unprecedented crisis which required a com-
well as lows reaching -9.7 percent during that
during the measured period, while newspa-
pletely different approach to communication.
period. However, since 2011 the situation has
pers and magazines are projected to lose 2.3
Consumer behaviour had the most significant
stabilised, and advertising spending growth
billion each,” Guttmann said.
shift and there was a realisation that the
remained on average at roughly five percent.
But how has the Romanian marcomm
In the beginning, we had to deal with an
pandemic had accelerated years of digital
But 2020 brought the coronavirus outbreak
industry been impacted by the pandemic?
advancement into a few months, which
and with it a significant drop in ad spend,
According to Talida Cristea, chief operat-
meant that marketing budgets had pivoted
again surpassing nine percent. According
ing officer at Kubis, we are living through a
to online communication. Before, digital was
to projections, by 2022 the industry will see
couple of the most difficult and uncertain
seen as an option; now it is at the heart of
expenditure growth return to around 4.8
years of our recent history – economically, so-
each interaction we have, and this will never
percent and is forecast to round up to nearly
cially, individually. The ongoing coronavirus
change. Still, digital was not the winner of
USD 650 billion in 2021.
pandemic is having an impact on every part
the pandemic as it was perhaps portrayed.
of our lives, from the places we can go to the
Compared to 2019, the digital market value
largest advertising medium in 2022, account-
“Not surprisingly, the internet will be the
way we spend our time, the priorities we set,
in 2020 went up by only 9.2 percent, which
ing for a little over 54 percent of global ad
and how we manage our money. We all have
shows just an average, consistent growth. In
expenditures that year. Television, which has
heard that we are progressing into a world
order to remain relevant, companies needed
been the undisputed favourite among ad-
that will never be the same again, which can
to do more than simply adapt their business-
