Advertising is evolving faster than ever. The PwC Global Entertainment & Media Outlook shows that advertising is not just surviving—it’s thriving, especially in digital formats. For small business owners and brands across Spain, the UK, and Europe, this means clear opportunities if you focus where audiences are headed: digital audio first, then online video. Don’t worry, I’ll keep things simple and jargon-free.
In This Article:
Digital Advertising Is the Power Engine
According to PwC, total entertainment and media (E&M) industry revenue is expected to grow from around US$2.9 trillion in 2024 to US$3.5 trillion by 2029, with advertising leading the charge. In fact, ad spend is projected to grow at three times the rate of traditional consumer spending.
Even more telling, digital ad formats already account for 72% of total ad revenue, rising to 80% by 2029, propelled by advances in AI and hyper-personalisation.
Specifically, audio (like podcasts and digital radio) and video (especially mobile, social, and connected TV) are expected to grow fastest—retail advertising and mobile/social video both forecasted at around 15% annual growth, and connected TV in-stream ads at 14%.
Goodbye to Linear TV and FM Radio
While digital surges ahead, traditional formats are slipping behind. A global overview shows linear TV subscription revenues are expected to drop by around US$15 billion per year by 2027.
In the UK, people are watching significantly less broadcast TV—viewing time dropped by 55 minutes per day between 2019 and 2024, particularly among younger audiences. Broader European data mirrors this trend.
Digital radio use, though growing, hasn’t completely replaced FM yet—but countries like Norway are already phasing out FM entirely.
Why Audio Comes First, Then Video
- Audio (podcasts, streaming radio) is booming. It’s flexible, inexpensive to produce, and perfect for multitasking—like driving or doing chores.
- Online video is catching up fast. Platforms like YouTube and social media make visual storytelling easy, and people are engaging more through their phones and smart TVs.
- Forget print and traditional media; digital gives you creative, measurable, and scalable ways to reach your audience. In Europe, these channels continue to grow as the rest falters.
What This Means for Spain, the UK, and Europe
While U.S. trends often lead the way, Europe follows closely—especially the UK. PwC’s global numbers reflect what many have noticed on the ground:
- UK broadcasters are investing in streaming platforms as ad revenues on traditional TV fall.
- In countries like Spain and Italy, although TV decline is slower, the shift to online video is growing steadily.
- Digital audio is also on the rise; with DAB adoption and podcast popularity increasing, it’s only a matter of time before it becomes dominant.
Final Thoughts
The best play? Start thinking audio-first—podcasts, digital radio ads—where people are listening. Then layer in online video to add visibility and engagement. Traditional platforms have their place, but their role is shrinking fast.
The takeaway: the future of advertising is digital, data-rich, and accessible. For businesses in Spain, the UK, and Europe, adapting now could mean capturing audiences in ways we couldn’t dream of just a few years ago.
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