Advertising Agencies in Illinois
The Advertising Agencies industry in Illinois has struggled to keep up over the five years to 2017, as sluggish growth in the Illinois economy has dampened demand for industry services. For example, although consumer spending in Illinois has been rising, it has only increased at about half the rate that consumer spending has grown nationally. This indicates that consumers in Illinois are likely to purchase fewer goods and services, diminishing the value of advertising in the state. Digital media, however, remains a bright spot for the industry. As the number of mobile internet connections continues to rise, businesses will shift some of their demand from television advertising to digital advertising, using innovative solutions such as search engine, social media and viral marketing to fuel ad-driven revenue growth. Large operators, which dominate the industry in terms of revenue, will seek to continue acquiring smaller players (especially digital advertising specialists) to gain a stronger foothold in this emerging segment of the industry. Industry revenue is projected to rise over the five years to 2022.
Advertising agencies create advertising campaigns for periodicals, newspapers, radio, TV and other media. Through in-house capabilities or subcontracting, ad agencies provide advice, creative services, account management, production of advertising material and media planning and buying (e.g. ad placement.)
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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