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Global advertising spend to surpass $1trn for first time this year

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WARC
Projected 10.7% rise in global spend this year equivalent to an additional $104bn in advertiser investment, the second-highest absolute rise on record

One in five dollars (22.1%) spent on ads outside of China is paid to Google; DOJ ruling now threatens $32.9bn of potential growth over the next two years

Advertisers are due to spend $299bn this holiday season, with online platforms such as Amazon ($16.9bn in holiday-season ad revenue) set to be the biggest beneficiaries

WARC Global Ad Spend Outlook 2024/25 – November 2024 update
27 November 2024 – A new study from WARC, the experts in marketing effectiveness, has found that global advertising spend is on course to grow 10.7% this year to a total of $1.08trn – the strongest growth rate in six years and the largest absolute rise on record if the post-Covid recovery of 2021 (+27.9% year-on-year) is disregarded. The new forecast, published today, represents a 0.2 percentage point (pp) upgrade on WARC’s last global forecast in August.  
 Ad spend growth is also anticipated next year (+7.6%) and in 2026 (+7.0%), culminating in a global advertising market worth $1.24trn. Global ad investment has more than doubled over the last decade and has grown 2.8x faster than global economic output since 2014.WARC’s latest global projections are based on data aggregated from 100 markets worldwide. New for this edition, WARC is leveraging a proprietary neural network which projects advertising investment patterns based on over two million data points, spanning macroeconomic data, media owner revenue, marketing expenses from the world’s largest advertisers, media consumption trends and media cost inflation. It is believed to be one of the most comprehensive advertising market models available to the industry today.While the headline growth rate is mostly being driven by online media, a good year for TV has also made a notable contribution. Linear TV spend is expected to end the year 1.9% higher, at $153.6bn, following two years of decline. TV has been boosted by political advertising – particularly in the US – during the fourth quarter and both the Paris Olympics and the Euro 2024 football tournament in the third. Linear TV now accounts for just 14.3% of global advertising spend, however, down from a peak of 41.3% in 2013.Building upon a solid performance for legacy media, pure play internet, which encompasses advertising revenue among online-only businesses such as Alphabet, Amazon and Meta, is poised to grow by 14.1% to a total of $741.4bn – over two thirds (68.8%) of all ad spend.Social media is the largest individual sector within pure play internet – and the largest advertising medium of all by extension – with a total of $252.7bn this year equivalent to 23.5% of the global ad market. Prospects for the social market have been revised upwards this year to +19.3%, owing mostly to stronger-than expected results for Facebook, Instagram and TikTok over the first nine months of the year.James McDonald, Director of Data, Intelligence and Forecasting, WARC, and author of the research says: “Our latest forecast anticipates $104bn in incremental advertising spend worldwide this year, the largest rise in history if the post-pandemic recovery year of 2021 were discounted.“Whether this boom will sustain remains unclear, however, as 2025 presents a sliding doors moment due to heightened regulatory pressures on Google and TikTok – together a quarter of the ad market outside of China. This, alongside an increasingly challenging geopolitical climate, may spell uncertain times ahead for the businesses that rely on advertising trade.“By leveraging WARC’s proprietary neural network, which delivers timely and precise insights based on over two million datapoints, practitioners can navigate these dynamic conditions and plan ahead for a rapidly evolving advertising landscape.”Key themes outlined in WARC’s Global Ad Spend Outlook 2024/25 Q4 update are:GOOGLE’S 90% SHARE OF SEARCH MARKET IS A MONOPOLY, DOJ RULESOne in five dollars (22.1%) spent on advertising outside of China is paid to Google for its search services. Further, at an expected $197.7bn in 2024 (+13.0% year-on-year), Google alone accounts for 90.1% of all search advertising (excluding China). These commanding shares are similar in the US, leading the Department of Justice (DOJ) to rule last week that Google has an effective monopoly on the search market.The court believes that Google also uses its search dominance to inflate the cost per click (up by approximately 7.5% this year) and maintain superior targeting, effectively blocking competitors from offering viable alternatives.Outcomes from the ruling range from Google ceasing payments to handset manufactures and others for default preference – at a cost of approximately $30bn per annum – to the selling off of its Chrome business to a third party.One potential suitor – Bing – still struggles with adoption and advertiser investment despite Microsoft’s $100bn investment, accounting for just 5.9% of search spend outside of China. Bing’s ad revenues are expected to be up just 5.1% this year – compared to a rise of 11.9% for total search and 13.0% for Google – to a total of $12.9bn.Apple already makes $5.1bn from search ads, mostly via its app store, per Omdia Advertising Intelligence estimates, and could create its own search engine given its financial and distribution resources. The device manufacturer may hesitate to proceed, however, due to the high costs associated with maintaining a search business aside a general strategic misalignment. A leftfield entrant – perhaps Elon Musk’s X on the lookout for new revenue streams after losing $5.9bn in ad revenue since its 2022 takeover – may materialise, but on the whole natural successors to Google remain unclear.With the ongoing uncertainty around the practicalities of the DOJ ruling, and the probability that Google will appeal it vigorously in the coming months, WARC is maintaining its growth forecast of +9.0% next year and +7.0% in 2026 for the company while the situation develops, leaving a potential $231bn ad business and $32.9bn of growth in the balance over the next two years.HOLIDAYS ARE COMINGAdvertisers the world over are expected to spend $299.2bn during the final quarter of the year, well over half of which will be spent during the holiday season. This represents a 10.2% rise from the previous year, up marginally (+0.2pp) from our August forecast.The fourth quarter is crucial for retailers, typically accounting for over 30% of annual ad spend within the sector which represents the intense battle for consumer salience and share of wallet each year. Retailers will spend $45.6bn on advertising during Q4 2024, up 5.0% compared to last year. TV is set to attract 15.9% of this spend, at $6.8bn, with nearing a quarter (23.3%) of this – $1.6bn – spent on ads delivered via connected TVs (CTV) so as to leverage the additional targeting capabilities these devices can afford advertisers.Advertising on retail media platforms is also set to peak during the fourth quarter as brands vie to reach consumers close to the point of purchase. Globally, retail media spend is forecast to rise 16.4% in Q4 2024 to a total of $46.2bn – a new high. Amazon alone is expected to net $16.9bn from advertisers at this time, up 18.0% from the previous year.The technology and electronics sector is expected to spend most in online retail media environments during the fourth quarter, with an anticipated total of $7.2bn up 18.7% from last year. For context, this is over three times more than the sector spends on TV.It’s also a big time of year for fast-moving consumer goods (FMCG) brands, with the alcoholic drinks (+13.5% to $3.9bn), cosmetics (+13.8% to $5.2bn), food (+19.4% to $5.4bn) and soft drinks (+22.0% to $4.5bn) sectors all increasing retail media spend and allocating an increasing share of their ad budgets to online retail platforms this year.Overall, retail media ad spend is forecast to reach $154.8bn this year, with a further rise of 14.8% expected next year and 13.5% in 2026, by when the market would be worth $201.6bn.CANADA CALLS TIME ON TIKTOKThis month, the Canadian government ordered TikTok Technology Canada, Inc. to wind up its Canadian operations under the Investment Canada Act, citing national security concerns. This move forces TikTok to halt sales operations in Canada but does not block Canadians’ access to the app or its content creation capabilities. TikTok has vowed to challenge the order in court.There are few signs that advertisers are reining in their TikTok budgets; WARC believes TikTok’s ad billings grew by 27.1% to $17.8bn over the first nine months of 2024, even as the prospect of tighter regulation comes into sharper focus.Globally, TikTok’s audience is now almost at parity with Instagram, but users spend twice as long with TikTok. A ban is most likely to be to the benefit of Instagram, Snap and, to a lesser extent, YouTube thanks to its analogous Shorts format, mostly due to the migration of content creators.Brian Wieser of Madison & Wall estimates that some C$500m annually will be up for grabs if TikTok were to exit Canada. This scenario has not yet been factored into WARC’s forecasts pending the appeal process; indeed, WARC now expects TikTok to generate $24.6bn in advertising revenue (excl. China) this year, a rise of 25.9% from 2023 but equivalent to just 9.1% of all social advertising spend.A complimentary executive summary by WARC’s James McDonald, author of the report, is available to read here. WARC subscribers can read the article and access additional data here.

Energy

High-Level Minister Roundup to Headline African Energy Week 2026

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African Energy Chamber

African Energy Week 2026 will convene ministers from Algeria, Ghana, Senegal, Zambia and Niger to spotlight oil, gas expansion, reforms and investment opportunities continentwide

CAPE TOWN, South Africa, March 13, 2026/APO Group/ –A high-level ministerial roundup will take center stage at this year’s African Energy Week (AEW) 2026 – taking place in Cape Town from 12–16 October –, convening some of the continent’s most influential energy leaders at a defining moment for Africa’s oil, gas and power sectors. As hydrocarbon expansion converges with accelerating energy transition strategies, the gathering is set to spotlight real-time project execution, regulatory reform and cross-border infrastructure that are actively reshaping Africa’s energy future.

 

Confirmed ministers to date include Algeria’s Minister of Energy and Renewable Energies Mourad Adjal, Ghana’s Minister for Energy and Green Transition Dr. John Abdulai Jinapor, Senegal’s Minister of Energy, Petroleum and Mines Birame Soulèye Diop, Zambia’s Minister of Energy Makozo Chikote and Niger’s Minster of Petroleum Hamadou Tinni.

 

Fresh from a March OPEC+ decision to lift output to 977,000 barrels of oil per day (bpd), Algeria enters AEW 2026 amid a $60 billion sector transformation. The country is also advancing a 500-well exploration drive and accelerating its 1.48 GW “Project of the Century” solar rollout. Gas exports to Europe remains central to the country, supported by hydrogen corridor planning and refinery expansion aimed at boosting capacity to 50 million tons by 2029.

 

Following license extension for Jubilee and TEN to 2040 and the late-2025 restart of the Tema Oil Refinery, Ghana is pushing a $3.5 billion upstream reinvestment plan while settling $500 million in gas arrears. A 1,200 MW state thermal plant and expanded gas processing at Atuabo anchor its gas-to-power shift, alongside a renewed upstream push in the Voltaian Basin.

The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital

 

Senegal’s delegation comes on the back of strong production momentum, with the Sangomar oil field delivering 36.1 million barrels in 2025, outperforming forecasts, while the Greater Tortue Ahmeyim LNG development ramped up to 2.9 million tons per annum following first gas. Dakar is now prioritizing domestic gas through refinery upgrades at the SAR refinery and preparations for Sangomar Phase 2 to push output beyond 100,000 bpd.

 

Zambia is redefining its power mix after drought-induced hydro shortfalls. New solar capacity – including the 200 MW Chisamba expansion and 136 MW Itimpi Phase 2 – is part of a broader 2,500 MW diversification drive. Cabinet has approved major regional fuel pipelines, while the Energy Single Licensing System fast-tracks approvals. Lusaka targets 10 GW generation by 2030, with solar and wind rising to one-third of supply.

Niger’s presence reflects its emergence as a serious oil exporter, with the fully operational 1,950-km Niger-Benin pipeline now moving up to 90,000 bpd to international markets. Alongside uranium expansion and renewed cooperation with Algeria on upstream assets, Niamey is advancing digital oversight reforms and reinforcing energy sovereignty amid evolving geopolitical dynamics.

 

“The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Their leadership reflects a continent moving decisively from strategy to execution, creating a platform where investors can engage directly with the policymakers shaping Africa’s next wave of oil, gas and energy growth.”

 

At AEW 2026, this ministerial cohort will be well-positioned to offer investors direct insight into Africa’s most dynamic energy markets – where new barrels, new pipelines and new megawatts are reshaping regional growth trajectories in real time.

Distributed by APO Group on behalf of African Energy Chamber.

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Enlit Africa 2026 Programme: 280+ speakers, African nuclear 2.0, Bruce Whitfield Business Breakfast

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Enlit Africa

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals

CAPE TOWN, South Africa, March 12, 2026/APO Group/ –Enlit Africa (https://apo-opa.co/4cEX08g) has released its full 2026 conference programme, featuring 280+ speakers across 8 specialised tracks including a new African Nuclear 2.0 session covering Koeberg’s 20-year life extension and Ghana’s nuclear vendor selection process.

 

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals.

Award-winning business journalist and best-selling author Bruce Whitfield will deliver the opening address at the Project & Investment Network Business Breakfast on 19 May, kicking off three days of strategic sessions, deal-making platforms, and technical masterclasses.

New programme content includes:

African Nuclear 2.0 – A dedicated session examining the transition from planning to execution, featuring:

Koeberg Nuclear Power Station’s successful 20-year life extension (Units 1 and 2 now licensed until 2044/2045)

Ghana’s progression to Phase 3 of its nuclear programme, evaluating US, Chinese, and Russian technology bids

West African Power Pool‘s 10 GW regional nuclear capacity target

Small Modular Reactor (SMR) deployment readiness across African grids

Independent Transmission Projects (ITP) – A new session exploring how private investment is unlocking Africa’s transmission bottleneck, featuring global case studies from India’s PowerGrid and lessons for scaling grid capacity across the continent.

Generation Masterclasses – Five interactive roundtables on gas-to-power, nuclear, hydro power, clean coal, and hydrogen.

AI in Africa’s Power Grid – Examining practical deployment realities, real-time analytics, and predictive maintenance applications already in operation across African utilities.

Conference sessions and technical hub sessions on the expo floor are CPD-accredited by the South African Institute of Electrical Engineers (SAIEE) and the South African Institution of Civil Engineering (SAICE).

Co-located platforms:

Water Security Africa features country playbooks from Namibia (55-year potable reuse programme), Uganda (NRW reduction from 42% to 32%), Cape Town (Day Zero recovery strategies), and sector-specific stewardship sessions with Harmony Gold, Heineken, Mediclinic, and Growthpoint Properties.

Project & Investment Network (P&IN), part of the new Level 2 Executive Experience, connects project developers, investors, African utility CEOs, and DFIs through structured matchmaking, ministerial dialogues, and project briefings. Over the past two years, P&IN has facilitated $3 billion in project pitches.

Utility CEO Forum brings together 35+ confirmed utility CEOs under Chatham House Rule for candid, off-the-record strategic discussions on unbundling, prosumer management, and financial sustainability.

Municipal Forum addresses South African municipalities’ distribution, metering, and revenue challenges, including sessions on NRW management, tariff reform, Cost of Supply studies, and electrifying informal settlements.

Technical Hub sessions on the exhibition floor offer free, CPD-accredited training across Power, Renewable Energy & Storage, and Water tracks, with confirmed speakers from Eskom, ENGIE SA, ACTOM, National Transmission Company South Africa (NTCSA), RenEnergy, and Matla Energy.

Site visits on 22 May include Koeberg Nuclear Power Station and the V&A Waterfront desalination plant.

Pass options:
Free expo pass registration: https://apo-opa.co/4bl2bYu

Free expo passes provide access to 250+ exhibitors and CPD-accredited Technical Hub sessions.

Delegate Pass:
Early bird registration closes 3 April 2026. Delegate passes start at R15,100 (Silver), with P&IN Executive passes at R32,000 including access to the Bruce Whitfield breakfast, Level 2 executive lounge, and investor matchmaking.

Download the full programme: https://apo-opa.co/3NwCble

Register: https://apo-opa.co/4cEX08g

Distributed by APO Group on behalf of VUKA Group.

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Binance Secures Second Major Legal Victory in U.S. Court Under Anti-Terrorism Act in Two Weeks

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Binance

US Federal Court in Alabama Dismisses All Claims Against Binance in Latest Lawsuit Victory

JOHANNESBURG, South Africa, March 12, 2026/APO Group/ –Binance (www.Binance.com), the world’s largest cryptocurrency exchange, announced today that a U.S. federal court in Alabama has dismissed all claims against the company in a lawsuit alleging violations of the Anti-Terrorism Act (ATA). This marks Binance’s second major legal victory in an  ATA matter within one week, following their victory in the Southern District of New York.

A Full and Complete Legal Victory

In a detailed 19-page ruling, the Court found the plaintiffs’ complaint to be legally and factually deficient. The court’s decision to dismiss every claim across the board represents a decisive legal victory for Binance.

Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process

The judge described the filing as a “shotgun pleading.” The complaint failed to clearly specify the claims and improperly grouped all defendants together without distinguishing individual conduct or liability. The ruling also emphasized that the plaintiffs did not meet the basic pleading standard to provide a “short and plain statement” of their claims.

Following the ruling, the court granted the plaintiffs until April 10, 2026, to file an amended complaint addressing the deficiencies identified. However, the judge warned that failure to adequately address these issues would result in dismissal of the entire case.

Building on Momentum and Upholding Legal Integrity

“This decision reinforces our unwavering commitment to protecting Binance and our community from unsubstantiated and bad-faith lawsuits,” shared Eleanor Hughes, General Counsel at Binance. “Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process. Courts have now examined these claims on two separate occasions and found them to be without merit. These outcomes speak for themselves. We will not tolerate attempts to misuse the legal system to target our industry, and we remain as committed as ever to transparency, security, and lawful conduct in everything we do”.

This latest decision follows closely on the heels of Binance’s comprehensive victory in New York (https://apo-opa.co/46Xg0ev), where the Court similarly rejected allegations that the company assisted, participated in, or conspired with terrorists. Together, these rulings reflect Binance’s strong resolve to protect its platform and community.

Binance has consistently invested in industry-leading compliance infrastructure, regulatory engagement, and legal governance. The company will continue to vigorously defend itself against any attempts to bring unfounded claims or misrepresent its operations.

Distributed by APO Group on behalf of Binance.

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