German industry association VAUNET expects advertising revenues in the audiovisual media sector to grow again this year.
Following a decline by 4% in 2023, revenues are expected to rise by around 6.1% to €6.25 billion this year, reports VAUNET in its annual spring forecast.
Since the beginning of the Corona crisis four years ago, the advertising market for video and audio advertising has experienced a very volatile development: after net advertising revenues declined at the beginning of the crisis in 2020, they were already slightly above the pre-crisis level in 2021, but fell again moderately in the following year 2022 with the start of the war in Ukraine and fell again by 4% from €6.13 billion to €5.89 billion in 2023 as a result of the overall economic burdens.
According to the forecast, TV/video advertising revenues in Germany will increase by 6.5% year-on-year to €5.42 billion in 2024. Of this, €3.74 billion will come from classic TV advertising with growth of 2.4% and around €1.68 billion from advertising in streaming services with revenue growth of around 17%.
Advertising revenues in audio offerings will increase by a total of 3.3% to €834 million in 2024, according to the forecast. For classic radio advertising, the association expects revenue growth of around 2% to €713 million and an increase of 12% to €120 million for advertising on audio streaming services.
