Advertising

The outlook for the advertising industry varies by sector. Some advertising sectors will have more growth, such as in online and mobile advertising, whereas other sectors will have slow or no growth, such as radio, magazine, and newspaper advertising. PricewaterhouseCoopers (PwC) estimates advertising industry growth by sector through 2028 in its “Global Entertainment and Media Outlook” report.

The coronavirus pandemic fundamentally altered the course of the advertising industry in 2020 and 2021. Many advertising firms paused their advertising spend and others adjusted their content to reflect solidarity in the time of the pandemic and reaffirm their clients’ core missions. Coronavirus spurred the advertising industry to seek new ways to forge bonds with consumers whose lives had changed dramatically due to pandemic restrictions and concerns.

Post pandemic, the economy continues to rebound. Mobile device usage grew during the pandemic and continues to grow. The research group Statista predicts that by 2029, there will be 6.1 billion smartphone users, a nearly 43 percent increase from 2024. According to the PwC report, global Internet advertising grew by more than 10 percent in 2023 compared to 2022, reaching $52.5 billion in new revenues. By 2028, Internet advertising is expected to grow at a compound annual rate of 9.5 percent and will account for more than 77 percent of total ad spending. The fastest growing sector within Internet advertising will be retail/other display advertising, comprising non-video display ads on retailers' Web sites and their apps. Another factor contributing to Internet advertising growth is the continued rise in TV cord-cutting.

Video streaming is another sector of the advertising industry that will have steady growth in the next few years. PwC predicts that the U.S. video streaming market will experience about 5 percent compound annual growth through 2028. The report notes, however, that while global subscriptions to video streaming services will rise from 1.6 billion in 2023 to 2.1 billion in 2028, the "global average revenue per OTT (over-the-top) video subscription will barely budge, rising from $65.21 in 2023 to $67.66 in 2028." To increase revenue, streaming services such as Disney+, Netflix, and Amazon Prime Video started to offer tiered subscriptions, featuring lower subscription fees for services that have ads in them. Global video-on-demand revenue will have more than 14 percent compound annual growth from 2023 through 2028.

The TV advertising market experienced slow growth into 2022, but has since been on the upswing and the outlook going forward is bright. Growth in this sector is mainly due to the increase in purchases of smart TVs, as well as the rise of smart TV installations in commercial buildings, malls, showrooms, and other facilities. The research firm IMARC Group reported that the global TV ad market was valued at nearly $244 billion in 2024. About 3.24 percent annual growth in this sector is predicted from 2025 through 2033, reaching $329.9 billion by 2033. According to IMARC, “…the increasing purchases of smart TVs integrated with numerous advanced features along with organic light emitting diode display is propelling the growth of the market. In addition, the growing utilization of programmatic advertising to publish numerous ads on a wide variety of platforms and expand the reach of the ads is offering a favorable market outlook.” More people and businesses will be using smart TVs to stream videos and movies, watch live matches, award shows, and learn about business products and services.

The print advertising sector includes advertisement revenues from print newspapers and consumer magazines, not digital editions. Daily, weekly, and free daily print-edition newspapers and consumer-focused magazines are included in this sector. Statista reported that print advertising spending in the U.S. was expected to reach nearly $9 billion in 2025, with newspaper advertising being the largest segment (reaching more than $4.7 billion in 2025). Print advertising in the U.S. has been shifting toward digital platforms and this shift will continue, to keep up with technological advancements and changes in consumer behavior.

Overall, the global magazine advertising market is projected to decline at an annual rate of 4.8 percent from 2025 through 2030, according to Statista. Magazine advertising declined during the pandemic and since then, digital advertising, such as social media ads, has become a more popular means of attracting and engaging consumers. Digital ads can be created and shared quickly, whereas magazine ads, as described by the research group ReportLinker, “suffer from being trapped into a design that was made months before it will be published due to the length of time it takes to prepare a magazine advertis[ement] and the lengthy lead periods needed to acquire time or space. Digital campaigns may be put into action considerably more swiftly and, if necessary, changed as they go. These and other issues are causing magazine advertising to be increasingly replaced by digital advertising methods. As a result, market growth may slow down in the years to come.”

A decrease in radio advertising spending on traditional channels, such as radio commercials to promote companies’ products and services, has been a trend that is expected to continue in the coming years. Slow growth is predicted for the global traditional radio advertising market, at an annual rate of less than 2 percent through 2030. Satellite radio advertising is expected to continue growing steadily, as more companies spend on radio advertising to raise awareness of their brands and promote their products.

The employment outlook in the advertising industry shows some growth in most sectors. The Bureau of Labor Statistics predicts 8 percent employment growth for advertising, promotions, and marketing managers through 2033, which is faster than the average for all occupations. Employment growth will vary depending upon the occupation and the industry sector. There were about 411,300 advertising, promotions, and marketing managers employed in the United States in 2023, and that number will grow to 442,400 by 2033. This growth is predicted due to media companies’ continued reliance on advertising revenue for profitability, as well as the need to replace workers who leave the field or retire. The BLS predicts that digital media will account for much of the growth in advertising, and in particular digital ads that are made for cell phones, tablet-style computers, and online radio stations. Advertising and promotions managers will also be needed to work on digital media campaigns that are geared to customers through Web sites, social media, or live chats.

Employment of advertising sales agents is expected to decline by 7 percent through 2033, according to the BLS. There were 111,600 advertising sales agents employed in the United States in 2023, already a drop from the 147,900 employed in 2018; and that number is expected to drop to 104,200 by 2033. The decline in newspaper print advertising and the growth of digital advertisements have reduced the need for advertising sales agents. Digital advertisements can be sold and placed through software applications and search engine programs. Advertising sales agents will have the best odds of finding work at Internet-focused companies. Competition for advertising sales agents jobs will be keen, and those with sales experience, a bachelor’s degree, and knowledge of digital advertising methods, including search engine optimization, will have an edge in the job market.

Art directors will have average employment growth, about 5 percent, through 2033. In 2023, there were 126,600 art directors employed in the United States, and about 6,600 new jobs will be added to the field by 2033. Approximately 12 percent of art directors are employed in advertising, public relations, and related services. While traditional print publications will have fewer jobs for art directors, Internet-based publications and digital magazines will have greater need for art directors to help design Web and mobile platforms and to oversee graphic designers and others involved in design and layout.

Job growth for graphic designers will have slower-than-average employment growth (2 percent) through 2033. There were 267,200 graphic designers employed in the United Stated in 2023, and a total of 273,800 will be employed in this field by 2033. About 9 percent of graphic designers work in advertising, public relations, and related services. Companies will continue to need graphic designers’ services to help advertise and market their services through Web sites and social media sites. The Department of Labor notes, however, that artificial intelligence and other automated design tools may limit employment growth for graphic designers.

The BLS predicts that employment opportunities for writers and authors working in media and communications, including advertising copywriters, will grow at an average rate, 5 percent, through 2033. Writers who are well versed in online and social media and comfortable working with a variety of digital and electronic tools will have better chances of landing jobs.