The increase represents 8.5% compared to the previous year.
IAB Colombia, the leading association in the digital advertising industry, has released the results of the digital advertising investment report corresponding to the first half of this year. These results reflect the good moment that advertising is going through in Colombia and are positive given the importance of advertising in the economic and commercial panorama of the country.
During the first half of 2023, investment in digital advertising in Colombia amounted to $1,028 billion pesos, representing a growth of 8.5% compared to the same period of the previous year. This substantial increase demonstrates the continued rise of digital advertising in the country despite the economic moment experienced globally, digital advertising continues to grow.
“The line between online and offline is increasingly blurred and it has become clear how, at the level of conversion points, today offline and online are complementary to achieve different advertising objectives,” said Paola Restrepo Ospina, executive director of IAB. . In addition, this format allows for detailed segmentation that allows companies to target specific audiences based on their interests, online behaviors, demographics and geographic location,” added Restrepo.
The report details that, within this investment, display formats represented $803,489 million, while search, classifieds and directories reached $225,167 million. Regarding the distribution within the display format, it is highlighted that 36.2% corresponded to Social Media, followed by 36.0% in video and 16.5% in standard display. Regarding distribution by sector, telecommunications leads with 11%, followed by commerce with 10%, beverages with 10% and food and candy with 9%. Likewise, of the other display formats, those that have shown the greatest growth during the first half of the year are: advergaming, display in applications and influencers.
Investment in digital advertising in Colombia, since 2021, has exceeded 50% participation in the national advertising industry. This growth trend has strengthened as the dividing line between online and offline spaces becomes more blurred for traditional media. The transformation of the latter in the face of the continuous growth of the digital ecosystem is evident. Projections show that this double-digit growth will continue until 2026, even after the post-pandemic increase, although a slowdown is anticipated. It is expected that by 2023, Colombia will rank fourth in the world in terms of growth, exceeding the estimated global growth rate by 6.5 percentage points.
«From a geographical perspective, it stands out that Argentina, Mexico, Colombia and Brazil are the markets that drive this growth. Despite the current economic uncertainty due to inflation and stagnation in the country, sustained double-digit growth is projected until 2026. These perspectives offer a favorable outlook for the continued development of the sector in the region,” concluded Restrepo. .