Traditional advertising refers to the dissemination of commercial messages through media channels to a large audience. Film, television, magazines, newspapers, outdoor, and radio advertising are the various categories of traditional advertising.
The market for traditional advertisements in the US stood at $97,101 million in 2021. Traditional advertisements grew 6% in 2021 on account of an increase in the launch of products by companies. The entry of new and small companies boosted the demand for traditional advertisement, which has been facing intense competition from the online advertisement segment.
The recovery in demand in the post-COVID-19 pandemic period spurred growth in the traditional advertisement market.
Large multinational businesses such as Omnicom Group, WPP Plc, Interpublic, and Publicis Groupe SA dominate the market in the US.
The US ranks first among all countries in terms of market size for traditional advertisement and contributes 40% to the traditional advertisement market globally.
The traditional advertisement market in the US recorded negative growth of 5.25% during 2017–21. This explains the growth in the alternative modes of advertisement, including digital advertising. The traditional advertising market is projected to slow down as the online advertising market captures a greater share and budget of the advertising market.
Moreover, companies globally reported a decline in advertisement spending as the demand decreased owing to restrictions on non-essential services due to the outbreak of the pandemic in 2020.
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