Taiwan, Singapore widen lead over Hong Kong on digital ad spending, says report
HK spend to reach estimated US$748.5 million by 2020, but the digital share at 24pc, will be way behind Taiwan (51pc) and Singapore (30.8pc)
Advertising spending in Hong Kong is predicted to see a steady shift to digital media platforms over the next few years, with campaigns reaching an estimated US$748.5 million by 2020.
But the city may lag behind the rapid pace of such change in Taiwan, Singapore and other Southeast Asian economies.
Growth trajectory for broadband internet and mobile connectivity across Southeast Asia in the coming years ‘presents a unique opportunity for advertisers to tap into new markets of fast urbanising middle-class consumers’
A report published on Monday by research firm eMarketer, in collaboration with IAB Singapore, predicts digital campaigns will account for 51 per cent of total advertising expenditure in Taiwan and 30.8 per cent in Singapore by 2020, compared with 24 per cent in Hong Kong.
Malaysia and the Philippines are also expected to outpace Hong Kong with digital advertising spending shares of 25.2 per cent and 24.2 per cent, respectively, in the same period.
Shelleen Shum, a senior forecasting analyst at eMarketer, said the growth trajectory for broadband internet and mobile connectivity across Southeast Asia in the coming years “presents a unique opportunity for advertisers to tap into new markets of fast urbanising middle-class consumers”.
The latest industry forecast could also serve to temper expectations on the progress of digital advertising in Hong Kong, which a PwC report last year suggested would see revenue exceed that of television campaigns for the first time this year and be worth US$1.07 billion by 2020.