LONDON, Dec 9 (Reuters) - Global advertising revenue

will increase 9.5% in 2024 to surpass $1 trillion for the first

time and grow 7.7% next year, according to GroupM, the world's

largest media buying agency, owned by WPP ( WPP ).

WHY IT'S IMPORTANT

The continued growth of advertising, driven by digital

platforms, has defied expectations of a slowdown. It accelerated

once again in 2024, GroupM said in its 2024 Global End-of-Year

Forecast, and it will maintain a faster rate of growth through

2029 than it predicted a year ago.

WHO IS BENEFITING?

Google, Meta, ByteDance, Amazon ( AMZN ) and Alibaba ( BABA ) are expected to

earn more than half of the revenue, with most coming from small-

to medium- sized advertisers via their advertising platforms or

from large advertisers purchasing directly, GroupM said.

POLITICAL ADVERTISING

The forecast excluded U.S. political advertising due to its

large skewing effect on the data.

U.S. political ad revenue added $15.1 billion to the total

this year - over 30% more than in the 2020 presidential election

year.

THE MEDIA SPLIT

Digital advertising, the largest segment, is forecast to

grow 10.0% in 2025, when it will account for 72.9% of total

advertising. It will continue to outperform other media and will

account for 76.8% of total revenue in 2029, according to the

report.

Global TV advertising will grow by just 1.9% to $169.1

billion in 2025, with linear TV accounting for 72.6% of the

total, it said.

Out-of-home advertising will grow by 7.1% in 2025, GroupM

predicted, outperforming audio, which will be roughly flat, and

print, which is forecast to decline 3%.