South Korea consists of more than quaint fishing villages. It’s Asia’s third largest economy and has a population of 48 million people. Those 48 million people are causing advertisers to spend a significant amount on advertising, specifically for mobile.
Studies predict that there will be a digital ad investment of over $2.94 billion in South Korea for 2016. That will equal 28.4% of all paid media spending globally.
Below, we will compare out-of-home (OOH) ad spending with mobile ad spending and discuss how they are each holding their own:
Out-of-Home Ad Spending
Despite the brief slip in ad spending in 2015, South Korea has remained strong in transit advertising and is predicted to grow throughout 2016.
According to the Korea Broadcast Advertising Corporation, transit advertising is expected to increase by 3.1%, equaling an estimated $420.8 million in ad spend. Though the growth may be slow, it is expected to remain steady.
However, it is vital to keep in mind that digital ad spending, particularly mobile, is surpassing most OOH ad spending, as well as a variety of other mediums, throughout the world. South Korea is no exception.
Mobile Ad Spending
As predicted, mobile display ad spending is still on the rise. Researchad believes advertisers in South Korea will spend more on in-app ads than regular mobile display, with a predicted spend of $1.1 trillion on in-app mobile display.
Even more impressive is that eMarketer expects ad spending to rise even further, with a predicted 30% increase. Even though search ad spending is growing faster than display, that difference will disappear in years to come, with search ad spending in the lead. Ad spending growth is expected to remain in the double digits until 2019.
Multimedia is skilled at providing a wide variety of global advertising for newspapers, out-of-home advertisements and a variety of digital ads. We provide exclusive access to media placement for the biggest channels in over 150 global media outlets.
To learn more about how Multimedia, Inc. can help your company advertise in South Korean markets, contact us today.