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Digital Media to Claim Growing Share of Asia Pacific Advertising Market – Study

Patrick Frater
·2 min read

The advertising market in the Asia-Pacific region is poised to grow by 5.1% in the current year and at an average 4% through to 2029, when it would reach $290 billion.

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According to a new report from consultancy and research firm Media Partners Asia digital media will grow in significance and expand its share of the market from a current 69% (worth $164 billion) to 74%, worth $215 billion by 2029.

Seven markets – China, Japan, India, Australia, Korea, Indonesia, and Vietnam – will drive the sector’s growth, contributing nearly $50 billion in incremental revenue between 2024 and 2029. India is forecast to be the top performer, with a projected 10.4% growth in 2024 and a 9.0% compound average growth rate over the 2024-29 period.

Retail media (advertising on a retailer’s media network or third-party publisher’s platform which leverages shopping data) and online video are key growth drivers. Retail media’s share of digital advertising in six major markets is forecast to grow particularly strongly, from 24% to 38%, between 2019 and 2023, to 44% by 2029.

Premium AVOD, encompassing branded long-form online video platforms, SVOD, AVOD, freemium players, and FAST, is set to grow at a 9.2% CAGR, according to the report, reaching $12 billion by 2029. User-generated content and other social video platforms, including YouTube, Meta and TikTok, will expand to $39 billion.

Traditional media faces challenges, with linear TV declining at a 2% CAGR over 2024-29. Again, India the outlier. It is the only market showing material growth in linear TV advertising.

“The industry’s future is intrinsically linked to the rising adoption of commerce, connected TV, and premium AVOD, alongside the persistent dominance of UGC/social video platforms. Retail media is set to drive over 50% of incremental growth in total advertising across six key markets over 2024-29, while online video retains its position as the fastest-growing media segment across all 14 measured markets” said MPA executive director Vivek Couto.

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