U.S. Media Advertising Outlook Through 2029

PwC’s Entertainment & Media Outlook Report contains projections for U.S. advertising growth through 2029. Following are highlights for key media:

	Digital Out-of-Home Advertising Digital Out-of-Home (ex. billboard, DMV, elevator, gas station) maintains its status as the fastest-rising segment with a +5.4% compound annual growth rate (CAGR)¹ through 2029, and its share of total OOH is forecast to overtake physical OOH spend, with this milestone taking place in 2029.
	Online Advertising² Online drops to a +8.5% CAGR.
	Cinema Advertising Cinema continues its rebound with a CAGR of +4.5%.
	Radio Advertising* Radio’s CAGR of +0.2% is down from last year, as is terrestrial online radio at +0.4% CAGR.
	TV Advertising TV declined to a -5.5% CAGR.
	Newspaper Advertising* Newspapers’ CAGR is expected to be -1.5%; print retains the majority share of ad revenues with a CAGR of -4.6%; digital remains steady with a +1.3% CAGR.
	Magazine Advertising Consumer magazines’ CAGR is expected to be -3.5%; digital stays consistent at +2.7% and print rises slightly with -10.5%.

¹The compound annual growth rate (CAGR) is the proportional growth rate from year to year for a business, used to calculate growth over a time period.

²Online’s category includes online TV and digital publishing.

Source: PwC’s Entertainment & Media Outlook, reported by Marketingcharts.com; *includes Canada.