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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThe pandemic period was the worst for advertising anywhere in the world. But, in 2021, the advertising sector regained momentum with greater spending.
The “Entertainment and Media Outlook 2022-2026" report released this week by the audit firm PwC found that major advertising markets posted better figures in 2021 testifying to a post-pandemic recovery in the sector's activities in Africa as in most countries. Indeed, South Africa generated $54 billion in 2021, much more than the $1.251 billion in 2020 and the $1.257 billion generated in 2019. The advertising sector generated $688 million, surpassing 2020 revenues of $488 million and 2019 revenues of $454 million in Nigeria. Apparently, it was a recovery year for advertising in the continent's main markets.
In 2020, businesses reduced their expenses, including advertising investments, due to operational and production problems, at the height of the pandemic of COVID-19. Also, in South Africa and Nigeria, internet advertising has not declined with the post-pandemic resumption of activities.
In Nigeria, the advertising sector generated $274 million in 2020, up from $204 million in 2019. In 2020, in South Africa, online advertising generated $799 million, compared to $715 million in 2019.
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