Hong Kong’s digital advertising expenditure is set to grow by 14 per cent this year and expected to reach USD 639 million, according to eMarketer’s latest forecast.
Mobile now accounts for almost half (49.2 per cent) of all digital ad spend and eMarketer predicts continued growth for the medium over the next few years. By 2021, mobile is expected to rise to USD 677 million, representing an 80.2 per cent share of digital ad spend.
The report highlighted that total media ad spending in Hong Kong will reach USD 3 billion in 2017, reflecting a growth of 0.5 per cent over last year.
“Traditional media ad spending in Hong Kong—especially among TV and magazine formats—has been under pressure in recent years due to the prolonged slump in the local retail sector, which has severely dampened ad sales. While the retail industry has shown some positive growth in recent months, we remain cautious about a strong recovery in total media ad spending and expect that traditional media will continue to be dragged down by the shift toward digital,” explained Shelleen Shum, Senior Forecasting Analyst, eMarketer.