Data: Thai ad spend up 4% YoY
May 20, 2024
Nielsen ad spend data for Thailand shows that advertising investments by marketers rose 4 per cent in January to April 2024, compared to the same period a year ago.
This increase of more than baht 1,255 million (€32.07m), period-on-period, echoes a predicted rise in ad budgets, according to Nielsen’s 2024 Annual Marketing Report, which shows that 82 per cent of the region’s marketers expect bigger ad budgets in 2024 – a significant jump from 56 per cent in 2023.
While digital channels are expected to occupy almost two-thirds of paid marketing spend in APAC in 2024, the report also showed that much of that spend may be ‘wasted’, with the average ‘off target’ rate for digital ads in Thailand coming in at 44 per cent – much higher than the APAC average of 33 per cent.
While a significant decrease in print spend (-33 per cent) and radio (-2 per cent) hindered growth numbers for the Thai advertising market, it was buoyed by large gains in cinema advertising (up 35 per cent), online advertising (up 8 per cent) and linear TV, (up 1 per cent), delivering an overall increase of 4 per cent.
Nielsen’s Thailand Vertical Lead for Agencies and Advertisers, Runchita Srivoravilai, commented: “As Thailand’s ad landscape grows more complex by the day, brands, agencies, and media owners need cutting-edge, high-quality commercial intelligence to stand out from the competition and strategically advance their brands and media. Nothing else comes close to Nielsen Ad Intel here.”
Arnaud Frade, Nielsen’s President, Commercial (Asia), added: “These numbers highlight the necessity for marketers to be more strategic in their ad spend, leveraging top-quality data to gain a competitive edge and maximise their ROI. As budgets get tighter, and there’s growing pressure on being seen and heard, marketers in Asia are doubling-down on targeting the right audiences. Multi-screen viewing is already the norm – and streaming channels are only going to grow. The key is leveraging this, which means effective cross-media measurement, which Nielsen is actively working to deliver in key markets across the region”.