Media Planning and Buying Industry Report by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices

The global Media Planning and Buying market reached a value of about USD 402 billion in 2021. The industry is projected to grow at a CAGR of around 13% in the forecast period of 2022-2027 to reach a value of about USD 836.94 billion by 2027.

The global Media Planning and Buying industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The industry is primarily being driven by the increasing internet penetration. North America is the highest category spender by region, driving the Media Planning and Buying industry demand.

Industry Definition and Segmentation

The practice of connecting with prospects and consumers as they travel through the buyer journey stages is called digital media planning and buying. Media purchasing is primarily concerned with obtaining advertising space and time. The Media Planning and Buying industry report comprises segments by region (North America, Europe, Asia Pacific, the Middle East, and Africa, and Latin America).

The North American Region is Driving the Growth of the Industry

North America holds the largest share in the industry as consumers are driving the cross-screen watching revolution. In the United States, customers adopt additional displays and applications to complement television, boosting the industry's growth by increasing the demand for televisions each year. Because network agencies are most prevalent in North America, buyers in these countries can have many centralised contracts covering multiple continents leading to the market's development.

The market is being driven by the increasing internet penetration, which has benefited the advertising sector by attracting most of the worldwide advertising spend. Many mobile users and second and third-screen activities present several potentials for important businesses at the cutting edge of advertising technology looking for innovative ways to expand their demand in the region. The growing shift towards internet videos instead of television has created new opportunities in the sector. Furthermore, clients have a realistic alternative to dominating network agencies in the media planning and purchasing arena, thanks to the emergence of independent agencies and the establishment of separate agency groupings that can cater to multi-market requirements. As a result, the advent of start-ups, notably in the e-commerce industry, is also likely to fuel category expenditure growth.

Best Procurement Practices

The global Media Planning and Buying industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by significant international Media Planning and Buying regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

A lot of the theoretical thinking towards creating an ad campaign take place at the media planning stage instead of the media buying stage. When media buyers have a game plan to work with, they can start implementing it. The first stage is to determine which media outlets they want to use for advertising. This might cover both conventional and digital media, such as print, radio, and television, or it could be primarily focused on digital platforms. Each media source with whom the media buyer wishes to collaborate will get a request for a proposal from the media buyer. Before formally acquiring ad space, media buyers haggle with media outlets to establish the best price. The campaign launch follows, with your advertising appearing in various locations based on the media buyer's preferences. Media buyers should continue to track results as the campaign progresses so that they can improve it. The buying process depends on detecting difficulties early and developing better ways to get your message heard.

Developments in the Sector, Further Driving the Media Planning and Buying Market

The shift is aiding the industry in advertising budgets from traditional to non-traditional media channels, an increasing emphasis on developing markets, and cross-screen planning. To improve their brand and reach their target consumers, advertisers move their budgets from conventional to digital platforms. Artificial Intelligence (AI) for media planning and purchasing and the expanding location-based and technology-based media planning and buying are some of the main driving factors.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Media Planning and Buying Industry Report

• Omnicom Media Group
• Mindshare Media Ltd.
• Carat
• Mediacom Worldwide
• Wavemaker

Market Landscape

There is fierce rivalry among global media agencies in the business, allowing marketers to choose providers depending on performance. Supplier power will be limited since suppliers have less weight on marketers.

Key Initiatives by Companies

• British Airways has chosen Omnicom Media Group as its new media and SEO partner following a complete marketing services assessment. Omnicom will begin operations in March 2022.
• Wavemaker selected MediaPost's 2021 Media Agency of the Year and Adweek's 2020 U.S Media Agency of the Year and designated SeatGeek's Media Agency of Record (AOR), effective immediately.