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The Business Research Company’s Media Buying Agencies And Representative Firms Market 2022 – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, July 21, 2022 /EINPresswire.com/ — Many media companies are investing in advertising on streaming services to capture audiences, which are increasingly shifting from broadcast television to streaming platforms. Streaming TV advertising refers to running paid advertisements on streaming services such as Hulu, Amazon Prime Video, or YouTube TV. According to the media buying agencies and representative firms market overview, these ads typically run in either 15 or 30-second segments, with up to 96% view rates, thus proving to be an extremely effective form of advertising. Streaming ads can also boost brand perception by 32% more than traditional TV, according to a study by Media Venue, a US-based full-service advertising agency, in 2020. Companies are buying rights from other companies to provide these services. For instance, in March 2022, Cinedigm, a US-based entertainment company offering enthusiast streaming services, completed the acquisition of Digital Media Rights (DMR), a diversified specialty streaming, advertising, and content distribution company with significant expertise in building audiences for global content in North America, for $16.4 million. Companies such as HBO Max (an American subscription-based video on demand service owned by AT&T’s WarnerMedia, through its WarnerMedia Direct subsidiary), Peacock (an over-the-top video streaming service owned and operated by the Television and Streaming division of NBCUniversal, a subsidiary of Comcast in United States), and Quibi (a short-lived American short-form streaming platform that generated content for viewing on mobile devices) are extensively ad-supported, while other streaming platforms are also slowly embracing the idea of advertisements.
Read more on the Global Media Buying Agencies And Representative Firms Market Report
The global media buying agencies and representative firms market size is expected to grow from $70.09 billion in 2021 to $105.03 billion in 2026 at a rate of 8.4%. The global media buying agencies and representative firms market share is then expected to grow at a CAGR of 9.2% from 2026 and reach $163.00 billion in 2031.
The media buying agencies and representative firms market growth is supported by technological developments in the market. Technology such as AI is changing the way advertising operations are run thereby reducing the cost and increasing the profitability. According to the media buying agencies and representative firms market analysis, the increasing use of SaaS-based intelligent and automated media buying platforms is contributing to the growth of the market in forecast period.
Major players covered in the global media buying agencies and representative firms industry are Publicis Groupe, WPP PLC, Omnicom Group Inc., Dentsu Inc., The Interpublic Group of Companies.
TBRC’s media buying agencies and representative firms market report is segmented by services into media buying service, media planning service, media representative firms, other services, by mode into offline, online, by application into banking, financial services, and insurance sector (BSFI), consumer goods and retail, government and public sector, IT And telecom, healthcare, media and entertainment.
Media Buying Agencies And Representative Firms Market 2022 – By Services (Media Buying Service, Media Planning Service, Media Representative Firms, Other Services), By Mode (Offline, Online), By Application (Banking, Financial Services, And Insurance Sector (BSFI), Consumer Goods And Retail, Government And Public Sector, IT And Telecom, Healthcare, Media And Entertainment), And By Region, Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides a media buying agencies and representative firms market overview, forecast media buying agencies and representative firms market size and growth for the whole market, media buying agencies and representative firms market segments, geographies, media buying agencies and representative firms market trends, media buying agencies and representative firms market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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