Vietnam – In Vietnam, linear advertising still accounts for 62% of the country’s advertising budgets, according to data from Mediabrands’ MAGNA.
According to the report, this year’s advertising revenues in Vietnam are increasing by 5% higher than anticipated due to the pre-COVID situation, which has caused pullbacks in advertising activity since 2021.
Meanwhile, TV advertising revenues are still a huge portion of overall ad budgets in Vietnam. Even though television ad spending is decreasing by -4% it still represents 58% of the total budget.
In other mediums, print ad sales continued to decline this year by -3%, and will continue by -4% in 2023, representing just 5% of total advertiser budgets. Furthermore, spending on print will represent just 70% of the pre-COVID total in 2019 by the end of this year 2022.
Lastly, as the economy recovers from the COVID outbreak in 2021, out-of-home (OOH) expenditure is expected to increase by 20% this year.
For digital advertising, the revenue is increasing by +22% and represents 38% of total advertiser budgets. Digital spending is led by social media advertising, which will increase by +36% and represent 48% of total digital advertising budgets. By format, mobile +30%, video +15%, and search +13% are leading growth.
According to the estimate, Vietnam’s advertising revenue will bring the market to VND 32.8 trillion ($1.5 billion). On a real GDP basis, Vietnam’s economy is expected to grow by 6.0%. Worldwide, media owners’ ad income will rise by over 9.2% this year, reaching around US$828 billion, or approximately 32% above the pre-COVID level of 2019. In addition, advertising revenues in the Asia-Pacific region are expected to rise by more than 7% to US$273 billion, or 35% higher than they were before COVID, thanks to an increase of over 12% in digital advertising.
