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<ul><li>According to Zenith’s Business Intelligence - Telecommunications report, telecoms advertising will grow at an average rate of 4.5% a year to 2023 as its recovers from an 8.7% decline in 2020.</li><li>Zenith forecasts that telecoms brands will increase their digital adspend at an average rate of 5% a year between 2019 and 2023. By 2023, <keyword id="169310" type="COMPANY" weightage="20" keywordseo="digital-advertising">digital advertising</keyword> will account for 54% of all telecoms advertising.</li><li>India and Russia to lead telecoms adspend growth Zenith forecasts that India will be the fastest-growing market for telecoms advertising between 2020 and 2023 by some distance, with 11% annual growth.</li></ul>Zenith's report on <keyword id="10970715" type="UNKNOWN" weightage="20" keywordseo="telecom-advertising">telecom advertising</keyword> has predicted that India will see the fastest growth between 2020 and 2023. According to Zenith’s Business Intelligence - Telecommunications report, telecoms advertising will grow at an average rate of 4.5% a year to 2023 as its recovers from an 8.7% decline in 2020. Telecoms adspend in the 12 key markets included in the report* will rise from US$17.8bn in 2020 to US$18.7bn in 2021, and then return to its pre-pandemic level of US$19.5bn in 2022. Smartphone sales will start to spring back this year once consumers feel more confident in their future. Consumers are becoming more willing to finance and purchase handsets independently from their network providers, giving manufacturers and retailers a greater incentive to advertise handsets themselves. Meanwhile, the networks will seek to recoup their investment in 5G licences and infrastructure through new services and more expensive data packages. All these trends will help fuel healthy growth in telecoms advertising over the next three years. Zenith predicts telecoms adspend will grow 4.7% in 2021, 4.4% in 2022 and 4.3% in 2023. Digital platforms help telecoms brands demonstrate relevance to exacting consumers Voice and data services are commoditised and functionally indistinguishable to consumers, who expect them to work flawlessly in the background and only pay attention to them when they go wrong. High-impact advertising in mass-audience media like television and radio allows telecoms companies to differentiate themselves from others through branding, and makes them more relevant to consumers by promoting their association with things consumers are passionate about, such as entertainment, sport and music. Telecoms brands therefore spend substantially more on television and radio advertising than the average brand – in 2020 they spent 42% of their budgets on television and radio, while the average brand spent 30%. But as audiences migrate online, telecoms companies are refocusing on communicating their brand narratives to mass digital audiences. Telecoms brands spend less on digital media than average (49% of their budgets went to digital channels in 2020, compared to 56% for the average advertiser), but digital advertising is also the only channel in which telecoms adspend is increasing. Zenith forecasts that telecoms brands will increase their digital adspend at an average rate of 5% a year between 2019 and 2023. By 2023, digital advertising will account for 54% of all telecoms advertising. “COVID-19 has demonstrated how dependent we are on good, fast and reliable internet connections. Telecoms companies have been the unsung heroes of the pandemic, shifting our lives online and keeping us connected to entertainment, work and commerce,” said <keyword id="10970716" type="UNKNOWN" weightage="20" keywordseo="Ben-Lukawski">Ben Lukawski</keyword>, Global Chief Strategy Officer, Zenith. “Their challenge is to go from being unsung to being acknowledged and appreciated for their efforts. The spread of 5G and the reality of our new-found virtual lives give telecom brands the opportunity to move into the limelight.” Telecoms brands are cutting back their spending on traditional television and radio as their reach declines, but less rapidly than brands in most other categories. Zenith forecasts that between 2019 and 2023, telecoms brands will reduce their television adspend by an average of 2.0% a year, compared to a 3.5% annual reduction across all categories. They will also reduce their radio adspend by 2.8% a year, compared to 4.1% a year for the market as a whole. India and Russia to lead telecoms adspend growth Zenith forecasts that India will be the fastest-growing market for telecoms advertising between 2020 and 2023 by some distance, with 11% annual growth. According to <keyword id="256870" type="COMPANY" weightage="20" keywordseo="eMarketer">eMarketer</keyword>, only 31% of the population currently has a smartphone, but thanks to the launch of low-price handsets such as the JioPhone, this proportion is rising rapidly. “The telecom sector in India in 2021 is anticipating a robust growth on the basis of an increase in tariff pricing, demand for data, growing number of mobile users and hopefully the launch of 5G in the last quarter. This will lead to a substantial increase in media investments by the key players especially on Television &amp; Digital” said <keyword id="6984953" type="UNKNOWN" weightage="20" keywordseo="Jai-Lala">Jai Lala</keyword>, COO, <keyword id="3929120" type="DOMAIN" weightage="20" keywordseo="zenith-india">Zenith India</keyword>. Russia is another market with relatively low (57%) but fast-growing smartphone penetration, and here telecoms adspend is forecast to rise rapidly too, by 8% a year. Most of the other markets in this report are forecast to grow by between 3% and 6% a year to 2023. The exception will be France, not because of any inherent weakness in demand, but unlike those in most markets, French telecoms brands actually increased spending in 2020 – by 6% – in response to the extra demand for data. The basis of comparison with 2023 is therefore considerably tougher. “The rollout of 5G services will allow mobile operators to supply bundled voice, data and entertainment services to the home and compete directly with landline broadband,” said <keyword id="3421269" type="PERSON" weightage="20" keywordseo="Jonathan-Barnard">Jonathan Barnard</keyword>, Head of Forecast, Zenith. “This will spur greater competition to put together the most attractive services at the best prices and help stimulate a sustained recovery in telecoms adspend to at least 2023.” *The 12 markets included in this report are Australia, Canada, China, France, Germany, India, Italy, Russia, Spain, Switzerland, the UK and the US, which between them account for 73% of total global adspend. Telecoms is defined as services and equipment facilitating the transmission of voice calls and data by land lines and mobile networks.

India will be the fastest-growing market for telecoms advertising between 2020 and 2023, with 11% annual growth: Zenith

<ul><li>Travel adspend will grow two to six times faster than the ad market as a whole from 2021 to 2023.</li><li>The travel ad market won’t return to pre-pandemic levels of spending until 2023.</li><li>Travel brands will increase their spending on digital advertising from 63% of budgets in 2020 to 70% in 2023.</li></ul>Travel advertising is poised for rapid growth as brands reset their relationships with consumers after the great rupture of 2020, according to <keyword id="250897" type="General" weightage="20" keywordseo="zenith" source="Orion">Zenith</keyword>’s Business Intelligence – Travel report, published today. Zenith forecasts that travel advertising in 13 key markets* will expand by 24% in 2021, twice as fast as the advertising market as a whole, before 36% growth in 2022 and 19% growth in 2023. As global travel starts to recover, travel brands must rebuild their relationships with consumers as they adapt to the realities of post-COVID travel. Brands will have to refocus their communications on different audiences as they adapt to the decline of business travel as companies coordinate more international business with remote meetings, and address consumers’ concerns about the sustainability of travel, and adapt to growing demand for low-carbon journeys. Travel advertising was one of the categories hardest-hit by COVID-19. The travel ad market lost nearly half its value in 2020 (46%), while the ad market as a whole shrank by just 4%. Zenith estimates that travel adspend fell from US$18.0 billion in 2019 to US$9.7 billion in 2020. Pent-up demand for travel will drive rapid growth in travel adspend over the next few years, but it will be a long road back to pre-pandemic spending. Travel adspend will be still 33% below its 2019 level this year, while the ad market as a whole will be 7% ahead. It will take until 2023 for travel to exceed 2019 levels of spending, when it will reach US$19.6bn. Travel is becoming a digital experience Travel advertisers spend more on digital advertising than the average brand – 63% in 2020, compared to 58% on average. This is not surprising for a category that has been well ahead of the market in digital transformation, conducting 32% of sales by ecommerce in 2021 compared to 20% for retail as a whole. Digital travel advertising aims to capture consumers in the early stage of research, through search advertising and display and video ads within relevant content. As travel becomes ever more digital, digital advertising will become even more important for both brand building and conversion. Integrating travel apps with vaccine passports, using them to help consumer navigate local COVID-related rules and bureaucracy, and offering digital concierge services will accelerate the transition of travel towards a seamless digital experience, from initial research to enjoying the destination. Zenith forecasts digital adspend by travel brands to grow by 6% a year between 2019 and 2023. By 2023 travel brands will be spending 70% of their budgets on digital advertising, an increase from 63% in 2020. “Travel was one of the earliest sectors to embrace digital as booking went online,” said Ben Lukawski, Global Chief Strategy Officer, Zenith. “Post-COVID, the best-performing brands will complete this transformation by making the total experience digital, from reducing form filling to contactless entry, removing nearly all possible friction from the experience.” Travel advertisers spend substantially more of their budgets on newspapers, magazines and out-of-home than average (20% in 2020, compared to 13% for the average brand), and substantially less on television (13% compared to an average of 24%). Consumers are looking for choice and value, so media that allow brands to display a range of options and some details of pricing are particularly effective. Travel adspend in print is falling as circulations continue to shrink, but out-of-home is forecast to recover from its slump in 2020 and grow at an average rate of 6% a year between 2019 and 2023. Brands seek out new travellers in Asia and Eastern Europe Zenith expects the fastest growth in travel advertising to come from India and Russia, where travel adspend will be 31% and 21% respectively above the 2019 baseline by 2023. Here, rising disposable incomes mean more people are travelling, and existing travellers are travelling more frequently. The same holds true for China and Poland, where adspend will increase by 16% and 14% respectively between 2019 and 2023. The robust US ad market is pushing up media prices, which is the main reason why travel adspend will be 13% higher there in 2023 and in 2019. Other mature markets will range from +9% to -9% growth over this period, depending on consumer demand, media inflation, adoption of digital technology, and a myriad of other reasons. In all markets, though, the recovery of travel advertising from the slump in 2020 will be well behind the growth of the market as a whole. “As travel begins to recover from the unprecedented drop in demand in 2020, brands are rebuilding their relationships with consumers, using digital technology to guide them at every stage,” said Jonathan Barnard, Head of Forecasting, Zenith. “Online video in particular will play a key role in creating emotional connections with consumers, inviting them to take their first step on their digital journey." *The 13 markets included in this report are Australia, Canada, China, France, Germany, India, Italy, Poland, Russia, Spain, Switzerland, UK and USA, which between them account for 74% of total global adspend. The report covers domestic and foreign travel for business and leisure.

Travel ad spends to accelerate from 24% growth in 2021 to 36% in 2022: Zenith  report

<ul><li>Out-of-home to bounce back from COVID-19 slump with 9% annual growth</li><li>Total FMCG adspend to exceed 2019 levels of spending in 2023</li><li>China leads digital transformation with 71% of FMCG budgets spent digitally</li></ul>Zenith forecasts that fast-moving consumer goods (FMCG) food and drink brands will increase their ad expenditure on digital channels by 7% a year to 2023, according to its Business Intelligence – FMCG Food and Drink report, published today. That’s well ahead of the 4% annual growth forecasts for FMCG adspend as a whole in the 12 markets included in this report*. <keyword id="417653" type="COMPANY" weightage="20" keywordseo="FMCG-brands">FMCG brands</keyword> still rely heavily on traditional TV, spending 39% of their budgets on <keyword id="1376766" type="PERSON" weightage="20" keywordseo="Television-advertising">television advertising</keyword> in 2020, compared to 24% for the average brand. Excluding China, where FMCG brands have already adopted <keyword id="169310" type="PERSON" weightage="20" keywordseo="digital-advertising">digital advertising</keyword> as their main form of commercial communication, FMCG brands spent 52% of their budgets in television, compared to an average of 26%. Their principal goal is to maximise brand awareness and reach so they are front of mind at the point of purchase for as many consumers as possible. This is something that TV has historically excelled at, but its declining reach – particularly among the young – is making it less effective. FMCG brands are therefore following audiences to digital channels. Zenith forecasts that FMCG digital adspend will increase from US$12.3bn in 2020 to US$14.9bn in 2023, and that its market share will rise from 46% to 49%. After the pandemic gave FMCG ecommerce its urgent stimulus in 2020, brands will look to support and expand their ecommerce capabilities, channelling consumers to DTC operations or retail partnerships. But the big challenge will lie in using digital to replace television effectively – creating large-scale brand awareness while managing frequency. The rise of Subscription Video on Demand (SVOD), which locks away high-value audiences from direct advertising, will make this even harder, as will the end of third-party cookies. “FMCG brands need a new comprehensive approach to reach-based planning,” said Ben Lukawski, Global Chief Strategy Officer, Zenith. “That means combining TV, paid advertising in online video, virtual placement in SVOD platforms and perhaps even a presence in gaming, using first-party and second-party data to prevent duplication and optimise incremental reach.” Out-of-home is the exception to the declining reach of traditional media. As traffic returns to normal after the COVID-19 slump, the spread of digital displays will make it even more effective at reaching consumers with targeted and relevant ads near the point of sale. FMCG out-of-home advertising is forecast to grow by 9% a year from 2020 to 2023, while its market share rises from 6.1% to 7.0%, slightly ahead of its pre-pandemic share of 6.8% in 2019. FMCG adspend to track total market growth as it recovers from 11% slump in 2020 Ad expenditure by FMCG brands fell more sharply than the ad market as a whole in 2020, shrinking by 10.7% to US$26.7bn. This was not because of any shortfall in demand. On the contrary, demand soared as people stopped eating in restaurants, cafes and bars and shifted consumption to the home. Instead, FMCG companies were faced with the challenge of ramping up production while supply chains were disrupted, and using limited available distribution to get their products onto shelves in stores, or to consumers’ homes. Many FMCG companies therefore cut back on promotional activity for products they couldn’t get to consumers quickly enough to satisfy demand, and invested in distribution infrastructure instead, especially ecommerce operations and partnerships. Zenith forecasts that the recovery of FMCG adspend will roughly track the market as a whole in 2021-2023. A bounce-back is almost inevitable in 2021 given the comparison with the sharp drop-off in 2020, particularly during Q2, though it will still be 6% below 2019 levels. FMCG companies face uncertainty over how quickly consumers will return to shops, and how much their behaviours have been permanently affected by the pandemic. However, now that FMCG ecommerce infrastructure is being put in place, brands will need to increase their investment in advertising to support it. Zenith forecasts 4.4% annual growth in FMCG adspend between 2020 and 2023, reaching US$30.3bn in 2023. At this point it will have fully recovered from the pandemic-induced drop in adspend, exceeding 2019 levels of spending by US$0.5bn. India leads adspend growth but China leads digital transformation Zenith forecasts that India will be the fastest-growing market by some distance over the next three years, with FMCG adspend expanding by 14% a year. It will benefit from blossoming consumer demand as disposable incomes rise rapidly, coupled with the catch-up expansion of the underdeveloped ad market: advertising accounts for only 0.3% of India’s GDP, less than half of the global average of 0.7%. All of the other markets in the report are predicted to grow steadily at between 2% and 5% a year. Jai Lala, CEO, <keyword id="3929120" type="DOMAIN" weightage="20" keywordseo="zenith-india">Zenith India</keyword> said, “FMCG growth will continue to be robust considering various reasons. Firstly, despite the pandemic, it is one category where the demand is constant, if not seen increasing. Secondly, with evolving consumer demand, FMCG continues to see a slate of new product launches and category expansion. Lastly, with the vast population being in Tier 2 and rural areas - it is one untapped potential market where the FMCG brands continue to increase penetration.” China stands out as the market where brands have most rapidly embraced ecommerce and digital advertising. In 2020, Chinese FMCG brands spent 71% of their budgets on digital advertising, compared to 46% across all 12 markets. Here, these brands focus on online video, which has a high and broad reach, and is open to commercial partnerships. This can mean advertising in online shows, or special livestreams by influencers, in which viewers can directly purchase the items being demonstrated. They also routinely advertise on ecommerce platforms to drive sales at the point of purchase. Chinese FMCG brands spent 35% of their total budgets on online video and 13% on ecommerce advertising in 2020. “Ecommerce will be the key battleground for FMCG brand growth over the coming years,” said Jonathan Barnard, Head of Forecasting, Zenith. “Western brands should look to China for best practice in using digital communication to drive FMCG ecommerce sales.” *The 12 markets included in this report are Australia, Canada, China, France, Germany, India, Italy, Russia, Spain, Switzerland, the UK and the US, which between them account for 73% of total global adspend. FMCG food and drink includes all packaged foods and soft drinks.

India will be the fastest-growing advertising market over the next three years, with FMCG adspend expanding by 14% a year: Zenith Report

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India will be the fastest-growing market for telecoms advertising between 2020 and 2023, with 11% annual growth: Zenith

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Travel ad spends to accelerate from 24% growth in 2021 to 36% in 2022: Zenith report

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India will be the fastest-growing advertising market over the next three years, with FMCG adspend expanding by 14% a year: Zenith Report

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