Samsung-owned advertising agency Cheil Worldwide’s data on Tuesday showed that the total advertising spending in Korea marked an on-year growth of 4.6 percent to 11.18 trillion won in 2018. Analysts credited international sporting events such as the PyeongChang Olympics and Asian Games as chief market growth drivers.
According to the data, advertising costs on print media such as newspapers and magazines declined, as well as on terrestrial TV and radio. Cable and internet protocol TV, on the other hand, saw advertising volume grow.
Mobile advertising costs in particular marked 2.8 trillion won, a 26.4 percent increase from the previous year, becoming the most preferred advertising platform for a second year in a row. Cable and IPTV came second at 1.96 trillion won in spending, followed by nonmobile online platforms with 1.59 trillion won, terrestrial TV with 1.44 trillion won and newspapers at fifth with 1.42 trillion won.
Digital advertising -- mobile and nonmobile -- recorded combined revenue of 4.39 trillion won, exceeding for the first time that of broadcast advertising. Nonmobile online advertising shrank 2 percent, contrary to mobile advertising’s robust surge, indicating a shift in the market toward a heavily mobile-driven advertisement environment.
Cheil Worldwide has estimated 5.7 percent growth to reach a market size of 12.36 trillion won in the overall advertising industry this year. The agency forecast a rosy outlook for mobile advertising, with revenues expected to hit the milestone of 3 trillion won for the first time.
By Kim Arin (email@example.com)