The Advertising Agencies industry provides creative services, advice, account management and production of advertising material across different channels for any industry. Over the five years to 2018, advertising firms have benefited from growing corporate profit and the proliferation of digital media, which have broadened operators' access to their target audiences. However, not all industry trends have been positive over the past five years. As more individuals have accessed media with an increasingly wide variety of devices, audiences have become much more fragmented, forcing industry operators to get creative in reaching broad audiences as well as paving a way for small niche operators to emerge, keeping market share concentration low. As companies learn how to further benefit from the growth of digital platforms, clients will seek integrated marketing solutions that combine multiple media platforms, resulting in more demand for industry services. Cross-platform advertising has posed as an arduous task for advertisers, due to hurdles related to securing methodology and metrics for cross-platform analysis. Nonetheless, revenue is forecast to rise over the five years to 2023.
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.