FRIDAY, March 29, 2024
nationthailand

Ad spending in media poised to get a boost

Ad spending in media poised to get a boost

THE MEDIA Agency Association of Thailand (MAAT) has forecast 4-per-cent growth in this year’s total advertising spending with a positive outlook for 2019.

Online media represent the fastest growing advertising platform, while printed magazines are becoming less popular. This clearly reflects a change in consumer behaviour, due to soaring use of smartphones and the Internet, increased preference for online TV platforms, and less time spent in reading books. Meanwhile, outdoor advertising is expected to be active again before the upcoming election.
Disclosing this year’s advertising spending and the forecast for the fourth quarter, MAAT president Triluj Navamarat said: “Thailand’s economy is obviously rebounding after two years of slow growth, resulting in higher spending on all advertising mediums. Constant economic stimulus packages, the upcoming election, Thailand’s special economic zones, export and tourism have undoubtedly boosted consumer and private sector confidence to invest and spend more, which has driven 4-per-cent growth in GDP.”
MAAT vice president Rattakorn Seubsuk added: “Looking at the advertising expenditure in the past three quarters and the outlook for the remaining three months, all advertising mediums have the potential to grow, surpassing that in the previous year. Online media has recorded the highest growth at 21 per cent followed by in-store media at 16 per cent and outdoor advertising at 6 per cent. Movie and TV advertising (including digital TV, cable TV and satellite TV) each saw 4 per cent growth, while radio advertising rose by 3 per cent.
Spending on transit media showed no change, whereas the popularity of newspapers and magazines for advertising spending has fallen by 21 per cent and 34 per cent, respectively.
“With GDP forecast to grow by 4 per cent and barring any unfavourable factors, 2019 will be a good year for the overall industry. Next year’s election will surely accelerate the growth of outdoor and transit media by 5 per cent. Although online media has the highest growth increase at 25 per cent, significant spending continues to be seen on TV advertising. We will be seeing a media budget shift from TV to online media due to the escalating number of Internet users against the decline of radio, cinema and print media,” added Rattakorn.
“Today’s fast-changing consumer behaviour has greatly influenced media spending choice. Consumers nowadays are rapidly responding to news updates and newly launched technologies. Marketers and media planners must have an in-depth understanding, particularly, a quick mind to learn and transform their strategy instantly so that their marketing campaigns and media planning can reach the targets successfully,” said Triluj.
The MAAT was established in 2007, bringing together top people from Thailand’s media agencies, with a shared commitment to promoting and growing media business related to media effectiveness, media personnel standards and professional ethics. The MAAT is also committed to promoting media research and development, which is useful for the advertising industry and society, including encouraging media collaboration at an international level.
 

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