This Year

Next Year
WORLDWIDE
MEDIA FORECASTS

DEC 2019
 CONTENTS
GLOBAL ECONOMY 06

GLOBAL ADVERTISING GROWTH 07

GLOBAL TELEVISION 10

GLOBAL INTERNET 16

GLOBAL OUTDOOR, RADIO AND PRINT 18

CONCLUSION 21

MARKET TABLES 23

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This Year
Next Year
WORLDWIDE
MEDIA FORECASTS
DEC 2019

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 THIS YEAR NEXT YEAR

What does our forecast

mean for marketers?

1
Where media spending growth outpaces growth in ad inventory and produces
inflationary conditions for like-for-like inventory, brand-focused marketers must
continually evolve their tactics to optimize campaigns. For example, the timing
of flights; the balance of resources allocated to data, consumer insights, creative
content and media buys; and the relative utility of specific media owners must all
be managed for greater efficiency. Marketers should continually look to develop
alternative approaches to their communications efforts so they have the credible
ability to walk away from less desirable choices.

2
Where media spending growth is tepid—or worse—brand and performance
marketers alike may still find valuable opportunities to use a medium, so long
as the potential for campaign reach against target audiences is still relatively
substantial. In these situations where spending grows slower (or declines faster)
than consumption, opportunities to secure improved overall terms, presence and
efficiency are likely to be produced.

3
Where territories’ economic growth is stronger than advertising growth, those
markets may offer disproportionate benefits for shifts of ad budgets from global
companies across countries. Over the next five years, the widest gaps of this
nature among the world’s 20 largest economies are found in China, Switzerland,
Mexico, Brazil and South Korea. Where economic growth is weaker than
advertising growth—and unless there are meaningful changes in trends in media
consumption or ad inventory management—those countries may be relatively
less effective places to spend. The widest gaps of this nature among the top 20
markets include Indonesia, the U.K., India, Italy and Canada.

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Global Economic Summary

The global economy has weakened in 2019 and will remain similarly soft in 2020.
By our calculations, based on Refinitiv data, the gross domestic product (GDP) of the
countries we track in “This Year, Next Year” is growing by only +2.6% this year in real
(inflation-adjusted) terms. Growth in 2020 is expected to be similar (+2.5%), with only
slightly faster growth (+2.8%) in 2021 and beyond. For reference, +2.5% would be
the slowest pace of growth in any non-recession / non-recovery year over the past
two decades. In nominal terms (including inflation), 2019 growth for these countries is
expected to be +4.9%, down from growth of +5.8% in 2018 and +5.7% in 2017. 2020
looks somewhat similar to 2019, and marginal improvements follow in subsequent
“CMOs are looking years. Nominal growth rates are important to track because they are the most
to better connect all directly comparable figures to those with which marketers and media owners work in
of their marketing determining their own financial plans.
channels together
Personal consumption expenditures are holding up better. One factor that has
with technology,
probably helped sustain marketing growth so far this year is growth in personal
but efficiency will consumption expenditures (PCE). As consumer spending represents more than half of
continue to be an all economic activity, PCE can be more important to monitor than GDP. Global growth
imperative in the in nominal PCE is holding up as well in 2019 as it did in 2018 at +5.5% in both years.
current lower-growth Growth is expected to slow, but only modestly in the years ahead. Of course, changes in
environment.” inflation levels diminish these figures, with expectations for real (inflation-adjusted) PCE
growth at incrementally slower levels each year over the next five years.
– CHRISTIAN JUHL,
GROUPM GLOBAL
Industrial production often correlates more tightly with advertising growth trends.
Industrial production (IP) figures are another key set of metrics to monitor, as IP often
correlates better with advertising activity than either GDP or PCE (manufacturers
generally only make things for sale if they are planning to spend money on advertising

ECONOMIC GROWTH AND ADVERTISING

GDP PCE Advertising (Excl. U.S. Political) Industrial Production

12%

6%

-6%

-12%
2000 2004 2008 2012 2016 2020 2024

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TOP CONTRIBUTORS TO 2020 GLOBAL GROWTH (MM OF USD)

U.S. 18,407

U.K. 1,910

India 1,518

China 1,258

Japan 754

Brazil 692

France 545

Canada 465 “Media investments

Indonesia 397 are greatly impacted
Russia 295
by the global
2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 macroeconomic
outlook, a domestic
economic slowdown
them). Weighted against GDP in the markets captured here, we see pronounced and China-US trade
weakness in 2019 and 2020 (+1.2% and +1.5%, respectively) relative to 2017 and tensions.”
2018 levels (+3.5% and +3.1%, respectively). Recovery toward slightly higher levels is – PATRICK XU,
anticipated for 2021 and beyond. GROUPM CHINA

Trade and other factors are key sources of uncertainty. As the Organisation for
Economic Co-operation and Development (OECD) has pointed out, slowing global
trade is clearly dragging on economic activity, and seemingly heightened geopolitical
uncertainties are similarly unhelpful. All of this would worsen if the U.S. experienced
a recession, although the U.S. economy has remained resilient, likely aided in part by
low interest rates and corporate tax reductions, alongside a federal deficit of nearly $1
trillion during the most recent fiscal year. This was equivalent to more than a quarter of all
government expenditures and nearly 5% of the overall economy, or more than double its
recent trough in 2015.

Mean and median growth rates may tell different stories. We note the difference
between mean and median growth rates, with larger economies expected to perform
relatively better than smaller ones in the years ahead.

Global Advertising Growth Summary

In this environment, deceleration in advertising growth should be generally
unsurprising. Global advertising, excluding U.S. political advertising (large enough
to distort global growth rates by +/-1% each year), expanded by +5.7% in constant
currency terms during 2018, capping the third year of better than +5% growth and the
best year of the current economic cycle. However, 2019 appears set to grow nearly
a percentage point slower at +4.8%, and growth is expected to slow by another
percentage point in 2020 and 2021. We forecast +3.9% growth next year and +3.1%

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growth the following year. Growth is expected to range between +3–4% through
2024. Although much worse than recent years, we note that this would amount to a
similar pace of growth to what was observed during 2012–2014. We estimate that the
total global advertising market during 2020 will amount to $628 billion as we define
advertising here, but would likely approach $700 billion on a broader definition that
includes spending on direct mail and directories around the world.

Notably, a substantial share of global advertising is now accounted for by digital-

first brands that are endemic to the internet. Based upon their securities filings, we
can see that Alibaba, Alphabet, Amazon, Booking.com, eBay, Facebook, IAC, JD.com,
Netflix and Uber are each now $1 billion+ advertisers, accounting for $36 billion in
“As with the global spending during 2018, up by a quarter over 2017 levels; growth in 2019 was presumably
economy, Japan very similar. Adding a couple dozen companies from the next tier of comparable
and its advertising marketers would easily add tens of billions of dollars of additional activity. Combined,
industry are headed this small group of companies accounts for a majority of the world’s growth in spending
for a mild slowdown, on advertising. To the extent that these companies tend to take shares of consumer
spending from others and do not directly cause the global economy to expand, at
although there are
some point their growth converges with global averages, resulting in slowing growth in
some domestic
spending as well.
offsets related to
the 2020 Tokyo The median growth rate has exhibited sharper deceleration in 2019 than the mean.
Olympics.” For the countries we have tracked with consistent data back to 1999, the median growth
rate in 2018 was +5.2%. It is expected that 2019 will be +2.1%, followed by +2.7%
– YUKA KUBO,
GROUPM JAPAN growth in 2020, with generally slower growth than the weighted average. The difference
between the mean and median highlights that growth is driven by a small number of
large countries and that the typical small country is experiencing worse growth trends,
bringing down the worldwide average. By contrast, median country growth was typically
well above the mean as recently as 2013, reflecting a period where much of global
advertising growth was driven by smaller countries. This maps to the aforementioned
global economic trends.

The U.S. remains the largest global advertising market, with $246 billion in
advertising as we define it here, and growing above global averages. With nearly
40% of the world’s total and a still-robust advertising market in 2020 and beyond (at
+4–5% growth excluding directories, direct mail and political advertising), the U.S. is
helping raise global averages. Our forecasts anticipate a slowing economy as well as the
gradual maturation of the digital brands that have driven so much recent growth. On the
basis described here, normalized U.S. advertising should slow from +7.6% in 2019 to
+5.0% in 2020, +3.4% in 2021, and similar levels in subsequent years.

China’s $90 billion media market is maturing and beginning to slow, but is still more
than two times the size of the number-three market, Japan. After many years of
rapid growth, China is now solidly the world’s clear number-two market for advertising,
with 16% of total media-owner ad revenue, nearly matching the country’s 17% share
of global GDP. However, macroeconomic concerns—including issues referenced above
and a general maturation of the Chinese advertising market—are weighing on growth

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ADVERTISING SHARE BY MEDIUM

Internet Outdoor + Cinema Magazine Newspaper Radio TV

100%

80%

60%

40%
“Uncertainty around
Brexit continues.
20%
Marketers remain
cautious regarding
2000 2004 2008 2012 2016 2020 2024 the deployment
of advertising
this year and beyond. We forecast growth of only +3.7% in 2019 and +1.4% in 2020. budgets—although
Similarly, low levels of growth are anticipated in subsequent years despite faster levels this isn’t necessarily
of economic expansion for the overall Chinese economy. Japan remains a solid number translating into the
three, with 7% of global advertising ($41 billion in 2020) and 6% of GDP, but growth is 2019 spend numbers
expected to be tepid there as well; +1.7% growth in 2019 is expected to be followed by
as Brexit slips back.”
+1.8% in 2020, and closer to +1% in subsequent years.
– TOM GEORGE,
GROUPM UK
The U.K. is still growing at a remarkably fast pace. Among larger advertising
economies, the U.K. and the U.S. stand out for their healthy growth expectations. For
the U.K., it is a feat made more remarkable given how much uncertainty has persisted
over the past three years since the Brexit referendum. Five years ago, the U.K. was
essentially tied with Germany as the number-four market for global advertising, but
since that time the U.K. has grown by +44% while Germany has only expanded by 7%.
The factors driving the U.K. are likely similar to those that have helped make the U.S. a
strong market, including a substantial presence of digital brand spending as well as the
expanding availability of ad inventory (in digital environments, primarily), which help make
it possible for smaller marketers to use media. Although we do expect growth to taper off
from the high-single-digit levels we have observed since 2014, solid mid-singles (+6.7%
in 2020 and +5.5% in subsequent years) are now expected.

Germany and France are growing at below-global average rates; so is much of

the rest of Europe. Brazil should be above average, while India is the world leader
among larger media markets. Germany and France have certainly underperformed U.K.
and U.S. levels of advertising growth in recent years, but remain in the number-five and
number-six positions for now. France appears set to grow at a slightly faster pace than
Germany, with a +2.8% five-year compound annual growth rate (CAGR) through 2024 for
France versus a +1.6% CAGR for Germany. By 2024, Germany should still be the fifth-
largest advertising market, but France will likely be overtaken in importance by both India

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and Brazil, currently number six and number seven, respectively. Brazil should grow at a
solid +4–5% level through 2024 after a soft 2019 (we believe the ad market there grew
by only +3.3% in 2019), but India should continue to be stellar, maintaining double-digit
growth rates (we estimate +12–13% each year from 2020 to 2024, similar to 2019 levels).
Of course, inflation is an issue for both of these countries, negating much of Brazil’s
growth. However, in India the effect will only mean that real growth is in high-single digits
rather than low doubles.

Canada and Australia are similarly sized markets, but they are growing in different
directions. Canada and Australia round out the world’s $10 billion+ ad markets in 2019,
with Canada expected to grow slightly faster over the next five years and growth likely
“Many companies largely tied to the health of its southern neighbor. Australia’s trends will likely differ, as
have succeeded we see at the present time with that country’s economy soft and facing a real risk of
recently by relying on recession for the first time in decades. The Australian ad market was likely only stable in
media which is highly 2019 versus 2018 and probably grows only slightly in 2020, for a +2.0% gain expected
efficient in the short- next year. By contrast, Canada is expected to grow +5.0% in 2019, and should slow
toward a high 3%+ growth level next year and in subsequent years.
term. Nevertheless,
we expect that brand Overall around the world, 14 territories are expected to decline during 2019, with Italy the
advertising will play a largest among them: We anticipate Italy will fall by -0.4%. Other large markets among
stronger role again in this group include Mexico and Switzerland, which are expected to decline by -4.6% and
the future.” -8.0%, respectively. Next year, fewer markets are expected to decline, with Switzerland
the most significant among them.
– THORSTEN EBBING,
GROUPM GERMANY

Global Television Summary

Globally, we estimate that television ad revenue declined by -3.6% in 2019, excluding
U.S. political advertising (or -5.5% including it). Despite the inclusion of digital
extensions associated with TV in some markets (including the U.S. and U.K.) and various
other advancements, TV is unlikely to grow in the future on an underlying basis, and we
expect just under $170 billion in annual ad revenue each year through 2024. New forms
of TV—or premium video advertising— will likely lead to a shift in spending within the
medium going forward. Although television arguably remains most effective in helping
marketers build their brands, the relative effectiveness of television has likely fallen, at least
incrementally. And, the share of budgets allocated toward TV have generally diminished
incrementally with each passing year. This has occurred as some advertisers shifted some
budgets out of TV and into digital, and other advertisers shrank in size and reduced media
spending, including TV. Television now commonly represents around 40% of a typical large
brand’s media budget, or 27% on average across all advertisers as reflected here for 2020.
Interestingly, the median growth rate in 2019 was +0.1% and should be +1.8% in 2020,
illustrating that there are many countries where TV advertising is still growing. The median
country should see growth of between +1–2% each year through 2024.

Top of mind for many marketers using television as a key part of their media mix
is the impact of new SVOD services, especially the U.S.-based media giants.
In a mature market such as the U.S., we can see the impact of the availability of

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streaming alternatives prior to the launch of Disney+: Cord-cutting and cord-shaving are
accelerating to record levels, with total pay-TV subscribers now falling annually by low-
single digits, and the median network losing mid-single-digit percentages of subscribers
on a similar basis. Traditional TV viewing across all audiences and all forms is down
only slightly, but this masks the growth of streaming-related activity. Concurrently,
consumption of television using internet-connected devices accounts for nearly 15%
of TV-related activity, and is growing by around +30% year over year. A majority of this
internet-connected-device viewing is directed to SVOD services.

The leading driver of this behavior is Netflix, of course, with 158 million subscribers in
total, including approximately 61 million U.S. subscribers (50% of all U.S. TV households),
12 million in the U.K. (41% of all households there), 10 million in Brazil (close to 20%), “Due to political
six million in France (nearly 25%), and six million in Canada (nearly half). The competitive changes in some
offering from Amazon’s Prime Video is nearly as widely subscribed, while other services countries and civil
primarily operating in single countries—including Baidu’s iQiyi, Alibaba’s Youku Tudou, unrest in others, a
and Tencent Video (all in China); Hotstar and Hulu (in India and the U.S., respectively, and climate of distrust
both owned by Disney)—have also emerged. In addition, a growing range of specialist
has been created,
and niche services and streaming replacements for traditional TV networks is now widely
which leads to weak
available. And of course, much more is set to come in the year ahead following the 2019
launch of Disney+ and Apple TV, with pending launches of new services from Comcast/ markets for 2020.”
NBCUniversal’s Peacock and AT&T/WarnerMedia’s HBO Max. – JORGE SERRANO,
GROUPM LATIN AMERICA
For these new SVOD services to have a meaningful impact in the U.S. or elsewhere,
meaningful investments will still be required—and the media owners making
those investments will face hard financial choices. Some of the new SVOD services
are launched by traditional TV owners, and accelerating investment in SVOD content
will partially depend on overcoming the friction tied to cannibalizing existing revenue
streams. These are hard decisions. Taking risks and making investments will help future-
proof their businesses, but not every company will do all they need to in the short term in
order to ensure long-term health.

Consider the scale of investment required to be competitive:

• In the U.S. alone, Netflix is on track to spend around $3.5 billion this year on an
accrual basis, or probably closer to $5 billion in cash terms (assuming one-third
of the global $15 billion in expected spending this year is attributable to the
U.S.). This amounts to around 5% of the ~$75–80 billion spent by all MVPDs and
streaming services in the U.S. This spending is arguably reasonable, considering
how much viewing Netflix generates: The company accounts for 37% of all
streaming consumption on televisions in the U.S., and streaming accounts for
around 14% of TV consumption, according to Nielsen data. From this data
we can calculate that Netflix has a 5% share of viewing, roughly the same as
their percentage of spending on content. Over the next several years, costs will
undoubtedly rise as Netflix looks to maintain its audience share, and so it is not
unreasonable to think in terms of $5 billion in spending on an accrual basis (or
more than $6 billion on a cash basis) by 2024.

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• Disney expects to spend $5 billion annually on content for Disney+ by 2024, with
one-third of subscribers inside the U.S., and presumably a proportional amount
of spending on content assigned to their U.S. content expenses. This will be
paired with spending on Hulu, which last year amounted to around $2.5 billion,
and which will presumably rise significantly. Even backing out costs associated
with Hulu’s vMVPD service, we could expect a $4+ billion streaming content bill
for Disney’s domestic operations in 2024.
• Similarly, AT&T has indicated that by 2024 it will be spending an incremental $3
billion on domestic programming for its HBO Max service, above and beyond
what it already spends on HBO today.
“We operate in • According to the Financial Times, Apple has committed $6 billion to spending
a challenging on original shows and movies for its TV service, presumably globally, over an
market, driven by unclear time horizon.
technologies that
If each of these services aims for viewing parity, it is not hard to imagine their spending
force brands to find $4 billion per year, on average. Additional services will also undoubtedly be significant
new ways to meet buyers of content, including Comcast’s Peacock and ViacomCBS, which will presumably
consumer needs.” invest more heavily in their initiatives as the two companies formally come together. The
– OLIVIER BACONNET, total amount of annual spending in the U.S. alone would likely amount to around $30
GROUPM FRANCE billion if all of this plays out.

All of this new spending would be consistent with recent increases in industry-wide
programming costs. If the non-streaming world were able to hold the line on its content
spending at around $70 billion, the $30 billion referenced above would represent an
incremental $20 billion on spending (as streaming services currently spend around $10
billion on content annually). Over the next five years, this would equate to a roughly +5%
increase in annual spending on programming by the services consumers receive in the
U.S., a lower figure than the +7% increase in spending on programming we saw from
cable and satellite operators over the past five years between 2013 and 2018.

However, the economics of streaming services are very different than those of the
traditional MVPD business. They are less favorable on a stand-alone basis and
usually need to be considered in the context of other services with which they
are bundled. Assuming that advertising attributable to streaming services will not be
incremental to the industry, direct revenues probably won’t fully offset costs by much, if
at all, leading to margin erosion.

There will only be so much money to go around for subscription fees. If consumers
continue to increase their spending on all forms of video (which amounted to
$140 billion last year for video services, cinema and DVDs) at historical rates
through 2024, there will only be an incremental $20 billion in consumer spending
available for new services. This is roughly equal to the amount of new spending on
content that we estimate above. And, unfortunately, advertising is not likely to be
incremental for the industry (as there is only a limited relationship between changes
in supply or improvements in targeting and changes in total spending in the
advertising industry, unless new advertiser segments are brought into the medium).

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This suggests that financial contributions from these new services will not be net
positive anytime soon.

Favorably for Disney, Comcast, AT&T and Netflix, at least, what money is available
will mostly go to these companies, as Amazon and Apple appear to primarily look at
streaming services as a value-added product and are not likely to attempt to recoup
all of their costs directly. The overall economics of these services can be viewed more
favorably if we consider their contribution to other business, including reduced churn or
pricing premia for services with which they are bundled.

For the media industry, the question is what media owners’ tolerance for margin
erosion will be. This will drive the pace of change in the years ahead. Some owners “In 2020, India
of streaming services will be more tolerant than others and position themselves more faces challenges
favorably for the future. But it’s also possible that every one of them agrees that this and uncertainties
kind of business reinvention ultimately leads to better business in the long run. For
across sectors, just
consumers, this world arguably looks quite favorable as it offers up better-quality content
with the opportunity to purchase content packages more granularly, as needed, even if
like other markets.
costs per hour of content purchased rises. For advertisers, some elements of television However, this also
will worsen because ad inventory is likely scarcer, and reach is likely harder to come by. brings opportunities
On the other hand, where advertising does exist in this new world—and many streaming for brands to
services will embrace advertising as an element of their financial models—it will likely innovate. This will be
reach more engaged consumers, in potentially more valuable environments than those propelled by greater
that have come before.
use of technology
Toward these ends, many advertisers want to prepare for such an eventuality. For and better content
those who believe it is prudent to make such plans, what should advertisers do? It across media.”
bears repeating that ad-supported TV in its broadest definition—including streaming – PRASANTH KUMAR,
equivalents—remains strong in absolute terms and generally maintains superior reach GROUPM SOUTH ASIA
relative to alternatives for most audiences. Of course, there are significant challenges
to be overcome in managing campaigns optimized for reach and frequency, given the
manner in which those campaigns must be run across different sellers of advertising and
different devices, and given the limitations of existing measurement systems.

If ad-supported TV declines relative to alternatives, different approaches to media

planning may be considered. Beyond premium video, many advertisers may run video
across environments that include other digital content or on digital out-of-home in an
effort to sustain broad reach, albeit without the borrowing of content’s brand equity.
Another alternative includes optimizing reach across a wider range of media, with a focus
on using each medium to drive awareness as best as each can. Other marketers might
find that a focus on outcomes as opposed to proxies for long-term outcomes (which
brand awareness is arguably best at) rather than reach is a preferred approach.

A future with less premium video advertising should present an opportunity to take
a fresh look at how marketing is budgeted. If the insights and ideas supporting brands
will be more impactful than any individual media execution, processes should focus more
on investing in those insights and ideas. Investing in a broader notion of a consumer’s
potential life cycle with a brand—ranging from brand ideas to media exposures, brand

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20%

TV GROWTH
(GLOBAL, EX-US
POLITICAL)
0

-20%
2000 2006 2012 2018 2024

20%

NEWSPAPER
GROWTH

-20%
2000 2006 2012 2018 2024

20%

OUTDOOR + CINEMA
GROWTH

-20%
2000 2006 2012 2018 2024

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20%

RADIO
GROWTH

-20%
2000 2006 2012 2018 2024

20%

MAGAZINE
GROWTH

-20%
2000 2006 2012 2018 2024

100%

80%

INTERNET
60% GROWTH

40%

20%

-20%
2000 2006 2012 2018 2024

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experiences and word of mouth (including all of the data and marketing technologies that
support them)—will probably be impactful as well.

We are mindful that U.S. trends may occur in other countries, but probably not
everywhere—at least not in the same ways over similar periods of time. We see
cord-cutting in some other countries, like Brazil, where we see mid- to high-single-
digit annual declines in pay-TV subscribers. However, in many other places, the
concept of cord-cutting is not meaningful yet, especially in countries where digital
terrestrial TV makes it possible for consumers to access what Americans might think
of as “basic cable” with a simple antenna, or through a free set-top box provided
by an internet service provider. Viewing trends will also be impacted by the fact that
“Increased consumer pay-TV penetration has often been low to begin with in many countries. This would
use of digital-first limit the hours consumers have historically spent with TV, at least relative to the U.S.
and streaming Where that has been true, it is possible that the wider availability of SVOD services
content has led (and the premium content they offer) could lead to an expansion in viewing of the
Canadian media medium in its broader definition. More viewing, especially of high-quality TV content,
should lead to more engaged viewers—all things being equal—and should prove to
organizations to
be positive for advertisers.
invest heavily in
data and technology
to distribute and Global Internet Summary
monetize content Internet-related advertising is now unambiguously the most important medium
through new globally, with $326 billion in ad revenue during 2020, up from $294 billion in 2019.
platforms.” Accounting for 52% of global advertising tracked here during 2020, digital is taking share
of advertising in almost every country in 2019 and should do so in all of them in 2020.
– SEB RENNIE,
GROUPM CANADA Digital should account for 34% of total advertising in the median country, illustrating
further opportunity for growth. However, the weighted average is higher because of the
relative importance of digital within larger countries, with digital accounting for more
than 60% of total advertising in several markets, including China, the U.K., Sweden and
Denmark. Share gains will rise beyond 2020, as global digital advertising should grow by
high-single digits in subsequent years (following +11% growth in 2020, +15% in 2019,
and +18% in 2018%).

Assessing market share estimates for key media owners is challenging.

Interestingly, the bottom-up (country-by-country) estimates for digital advertising tracked
here amount to approximately $230 billion in 2019, outside of China. At the same time,
we can see from public data that Google and Facebook are likely to generate somewhere
around $175 billion on a net basis, or perhaps around $210 billion on a gross basis.
Other large sellers of digital advertising—including Microsoft, Amazon, Verizon, Twitter
and Snap—will generate approximately $25–30 billion in digital ad revenue this year, and
there are undoubtedly other sellers of digital advertising whose revenues would amount
to at least that much.

Making detailed analyses of market shares will be subject to interpretation for

several reasons:

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• Significant amounts of ad revenue in countries around the world originate

in China (“the China export market”) and relate to international e-commerce
sales from small businesses based in China. These activities may not be fully
accounted for in individual country estimates.
• Significant amounts of ad revenue are directed to countries such as Ireland—
especially from small businesses—where many of the world’s largest digital
media companies maintain European or international headquarters. It is possible
that some of this spending will not be fully accounted for in individual country
estimates either.
• In some countries where digital spending is allocated to an owner of traditional
media properties, digital activity is included in the traditional media line (our “Media organizations
guess is around $10–20 billion in total), reflecting the often blurry nature of digital are consolidating
and traditional media. For example, in some countries, premium video delivered and innovating
over internet-based connections may primarily sell through digital rather than by investing in
traditional channels. In other countries, that same type of advertising may technology to deliver
primarily sell through traditional channels.
relevant content and
Digital-first brands have driven much of the sector’s growth. As we imply above, experiences to their
much of the growth in spending on digital advertising in recent years has been driven by audiences.”
digital-first brands, whose own business growth rates should necessarily slow as they – LIESA NEWLAND,
mature and see their growth rates converge with the rest of the economy. However, most GROUPM AUSTRALIA
large brands will continue to rely on digital media to supplement brand-building activities
that are often centered on TV or other offline activities, focusing on the use of digital
media to drive deeper engagement with consumers who may already have a view on
what a brand means to them.

Of course, digital media has the capacity to build brands, subject to an appropriate
creative strategy. Then again, ongoing challenges remain around digital media for
brands, including the increasingly “toxic” environments of platforms that do not curate
content or other advertisers, with the widespread availability of inauthentic content
(including fake ads) and other polarizing or extreme content. Measurement remains
another problematic issue, as fragmented, incomplete and often low-quality sources of
data make it difficult to assess the metrics that brand-focused marketers want to rely
upon in order to manage their budgets well in digital environments. The big question is
whether or not brand building is the focus of brand owners into the future. It may not be.

Business transformation efforts from traditional brands will orient those

companies’ media plans toward digital media. As brands increasingly invest in digital
business strategies—business transformation, for lack of a better term—including direct-
to-consumer concepts, sales via third-party e-commerce channels, and focus on driving
consumers to digital experiences (including websites or branded content), more growth
in spending on digital media will occur. At this point in time, most brands generate only
a small percentage of their revenues from e-commerce, but there are some brands
pushing toward half or more of their revenues or consumer relationship activities from

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nontraditional environments, demonstrating possibilities yet to emerge. Of course, some

categories will never be meaningfully digital (gasoline for automobiles is one example),
and growth trends will not be evenly distributed around the world, as some countries will
widely adopt new business models sooner than others.

What are the implications for marketers? One’s view on the pace and potential
scale of business transformation in a given country should inform one’s view
on the future growth rate of digital advertising. If business transformation will be
slow—whether because of friction in a country’s labor laws, lack of competition among
companies in key sectors, or limited broadband access—digital advertising growth will
be relatively slow. If business transformation is more rapid, growth in digital advertising
“Mass coverage will be more rapid. Arguably, business models might emerge because faster and cheaper
is still the key goal mobile broadband services will contribute to rapid digital media brand interactions.
for many brands, Where this is true, marketers will benefit from identifying preferred long-term media-
but marketers owner partners likely to have high-quality digital media inventory over a multiyear time
increasingly seek period, as the most premium inventory will become scarcer as time progresses. On the
other hand, in markets where business transformation is only going to move gradually—
media that allow
and where digital advertising growth is slower—securing long-term access to high-
for more accurate
quality inventory will be less important.
targeting.”
– NORINA BUSCONE,
GROUPM ITALY Global Outdoor, Radio and Print Summary
Beyond TV and digital—which combine to account for approximately 80% of all
advertising—other media face a general problem of simple math: An advertising
economy growing at low- to mid-single digits, with digital growing at least twice that
rate, does not leave much opportunity. However, other media may offer real benefits and
maintain the potential for faster growth in the future than in the recent past, especially as
they develop their own directly related digital assets.

Outdoor advertising is growing faster than the rest of the industry, aside from pure-
play digital media. Our updated estimates for outdoor advertising—a sector with $39
billion in global ad revenue during 2019—indicate growth slowing from +5.3% in 2018
to +1.8% this year, +2.5% in 2020, and 3–4% growth rates in most subsequent periods.
Importantly, these growth rates mask more robust health outside of the world’s number-
two and number-three markets of China and Japan: We estimate that on this basis the
industry grew by +6.8% in 2018 and that it will grow +4.2% in 2019, followed by a year
of +4.9% growth in 2020. Such levels represent a faster rate of growth than any other
medium, outside of pure-play digital.

What is behind this trend? First, OOH’s effectiveness is relatively undiminished by

fragmentation or ad avoidance. Second, owners of outdoor-related ad inventory have
invested in digital infrastructure, including a capacity to better manage inventory and
trade the medium programmatically. There is also widening availability of digital out-
of-home inventory from niche providers. This encourages a wider range of advertisers
to use the medium and provides some confidence in the long-term opportunities to
reallocate budgets within the medium more efficiently, at least where related real estate

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is constrained by local laws and regulations. Outdoor is also benefiting because there
are many fast-growing marketers who believe the medium is a superior alternative to
television when goals are focused around brand building and target audiences are in
geographically narrow areas.

Radio maintains wide reach and real impact, but growth is more modest. Radio, or
more accurately “audio,” accounts for $31 billion in activity this year, and has generally
been less robust than outdoor or television in recent years. We estimate that around
the world, the industry declined by -1.1% in 2019 and should grow by +1.8% in 2020.
Excluding the impact of political advertising in the U.S., the industry is essentially stable
and should grow by 0–1% each year into the future.
“With modest
Despite those tepid growth rates, innovation in audio has been percolating for years and economic growth,
has recently achieved more meaningful scale. The medium has the potential to benefit Russia’s consumers
from advertisers looking to stray from pure-play digital and television-based advertising.
have become more
Traditional radio has arguably always been very effective, so long as an advertiser empowered. The
is willing to invest in appropriate creative content and manage what can be, in key challenge for
some countries, a relatively fragmented medium. However, it has also suffered from marketers is to
negative perceptions—a reputation made worse when trade associations of traditional
find the working
broadcasters failed to embrace emerging industry participants. It has also been hard (or
balance between
at least expensive) to buy and steward campaigns, relative to other broadcast media.
Anyone looking to recommend spending on radio needed to overcome these issues. performance and
brand building
Despite the failure of traditional media owners to embrace them early on, streaming activities.”
services and satellite radio helped to improve the reputation of the medium as a whole.
– MARIA KOLOSOVA,
Podcasting—while modest in size—has seemingly captured the attention of marketers in GROUPM RUSSIA
a meaningful way as well, and programmatic buying of radio is helping overcome some
of the aforementioned executional issues in some countries. Now we are at a place
where audio can be judged on its own merits, which remain relatively healthy given the
medium’s wide reach and high levels of consumption.

Print still struggles, but there are niches with opportunities for long-term growth.
While once dominant in almost every country, print’s struggles selling advertising have
been pronounced. Newspapers should account for $39 billion in ad revenue during
2019, down by -11% versus 2018 levels and down from a peak of $123 billion in 2006.
Trends look no more positive into the future, with declines approaching -10% every year
going forward. Magazine trends are generally similar, with a -10% decline expected
during 2019, off of last year’s $25 billion base (which compares to 2007’s $60 billion
peak). Unfortunately for publishers, the inclusion or exclusion of digital advertising
won’t meaningfully impact the general state of decline for the industry, at least if we are
defining it through the lens of traditional news and magazine brands.

Print has generally suffered because the goals it tried to help large brands meet—
consumer engagement, for example—were provided more efficiently by digital media.
This introduced substantial competition to media owners who often had very little direct
competition in the pre-digital era. And as digital media expanded, circulation of print

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titles fell, making what was left of print less worthwhile for marketers than ever before.
By now, what is left of print as a medium can still be very effective for marketers, but the
scale is so different that it is best viewed as a niche platform.

Going forward, successful “print” businesses will generally depend upon subscription
fees and a broad geographic focus. For most publishers, advertising is best viewed as a
complementary source of revenue alongside other activities like events.

Publishers who transitioned their business orientation from print to digital have expanded
their geographic presence and invested in new business lines, but have not been able to
establish much of a subscription business. This puts them in a more precarious position,
“After several years regardless of the value their content brings to advertisers. All publishers are challenged
of economic growth, to cover the costs of content good enough to hold consumer attention for meaningful
Spain enters a amounts of time, and also good enough in context to warrant advertiser association. This
will remain an ongoing challenge.
period of uncertainty
that could lead to Despite these generally unfavorable growth trends, all marketers should regularly
recession.” assess opportunities to use media beyond television and pure-play digital in their
– JAVIER GALLEGO, campaigns. Just because a medium is growing slowly or declining does not mean it
GROUPM SPAIN cannot be impactful for a marketer now or in the future. What matters is whether or not
the media owner is investing in opportunities to connect with audiences. Marketers also
need resources to capitalize on opportunities involving media that are incremental to
existing plans. Doing so likely helps to improve the overall impact of their efforts.

Moreover, ongoing investments into alternative sources of media inventory—and

finding best practices that exist within them—may help improve the use of traditional
TV and digital media, both of which are likely to persist as the dominant forms of media
into the future.

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Conclusion
Putting all of this in context, we are mindful that media is only a means to an
end: The goal should be to optimize the mix of external and internal resources
that drives business growth. Marketers can look at the data included here to gain
a sense of the health of their media partners now and over the next several years.
However, even a media owner in decline may still be investing in new and better ways
to connect with audiences. At the same time, other media owners may be healthy in
terms of revenue growth but may not necessarily be investing in everything they can
to make their ad inventory more effective. More broadly, we encourage marketers to
continue to view media as only a means to an end. Investments in internal marketing
infrastructure, marketing technology software and external services are among the
“Media benefits
other ways to support marketing excellence. Ensuring that processes are in place to from the positive
optimize the balance between those elements of marketing will be more impactful economic climate
than the choice to invest or stay away from any one type of media as it grows or in the Netherlands.
declines in the years ahead. Digital spending
is accelerating,
MARKETING SPENDING (USD IN TRILLIONS) although local
publishers are not
growing.”
– MARJON VAN DIEPEN,
GROUPM NETHERLANDS

Advertising

Services
~$0.7
Software
TOTAL Other

~$0.6- ~$1.6–1.9 (Data, Partner Support,

Events, In-House
0.9 Activities, Sales, Retail
Activation, Sponsorships)

~0.15
~$0.15

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22 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

Market
THIS YEAR NEXT YEAR

Tables
All figures in constant currency terms

23 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

AR GE NTINA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $40.9 $55.7 $78.2 $103.7 $144.1 $211.2 $238.2 $297.7 $352.1 $406.9 $465.6 $514.7 $563.3
Growth 25.9% 36.4% 40.3% 32.6% 39.0% 46.5% 12.8% 25.0% 18.3% 15.6% 14.4% 10.5% 9.4%
Share 36.1% 36.2% 36.4% 36.2% 38.8% 41.1% 40.5% 41.5% 40.9% 40.4% 40.2% 39.5% 39.3%
RA D IO 5.6 7.8 13.7 20.3 30.5 40.6 49.4 61.7 74.9 88.6 104.2 119.9 134.7
Growth 44.4% 40.1% 75.4% 47.7% 50.0% 33.4% 21.6% 24.9% 21.4% 18.3% 17.6% 15.0% 12.4%
Share 4.9% 5.1% 6.4% 7.1% 8.2% 7.9% 8.4% 8.6% 8.7% 8.8% 9.0% 9.2% 9.4%
N EWS PAP ERS 30.6 37.3 49.3 60.6 62.4 62.7 69.5 71.7 80.1 84.6 86.9 91.2 93.2
Growth 21.7% 21.9% 32.1% 22.9% 3.0% 0.5% 10.8% 3.2% 11.6% 5.7% 2.7% 5.0% 2.1%
Share 27.0% 24.2% 23.0% 21.2% 16.8% 12.2% 11.8% 10.0% 9.3% 8.4% 7.5% 7.0% 6.5%
MA GA ZINE S 9.1 10.9 13.2 15.3 16.0 18.0 19.5 20.1 21.5 22.2 23.2 24.8 24.4
Growth 19.9% 19.7% 21.0% 15.7% 5.0% 12.0% 8.6% 2.9% 7.1% 3.0% 4.5% 6.9% -1.6%
Share 8.0% 7.1% 6.2% 5.3% 4.3% 3.5% 3.3% 2.8% 2.5% 2.2% 2.0% 1.9% 1.7%
O U TD OOR + CINE MA 21.9 28.3 35.7 43.3 43.8 58.4 64.4 65.3 74.0 82.6 91.5 100.3 106.1
Growth 7.8% 29.3% 26.4% 21.2% 1.0% 33.4% 10.4% 1.3% 13.4% 11.6% 10.8% 9.7% 5.7%
Share 19.3% 18.4% 16.6% 15.1% 11.8% 11.3% 11.0% 9.1% 8.6% 8.2% 7.9% 7.7% 7.4%
IN TER N ET 5.3 13.9 24.4 43.1 74.2 123.4 147.0 200.9 258.3 322.3 386.9 452.2 511.7
Growth 32.6% 163.0% 75.3% 76.8% 72.0% 66.3% 19.1% 36.6% 28.6% 24.8% 20.0% 16.9% 13.2%
Share 4.7% 9.0% 11.4% 15.1% 20.0% 24.0% 25.0% 28.0% 30.0% 32.0% 33.4% 34.7% 35.7%
TO TA L $113.4 $154.0 $214.6 $286.4 $371.1 $514.3 $588.0 $717.4 $860.9 $1,007.2 $1,158.3 $1,303.1 $1,433.4
Growth 21.4% 35.9% 39.4% 33.4% 29.6% 38.6% 14.3% 22.0% 20.0% 17.0% 15.0% 12.5% 10.0%

AU ST RALIA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $2,690.4 $2,764.0 $2,716.3 $2,700.7 $2,625.6 $2,572.6 $2,508.1 $2,411.0 $2,387.0 $2,383.6 $2,370.7 $2,358.2 $2,343.7
Growth -1.5% 2.7% -1.7% -0.6% -2.8% -2.0% -2.5% -3.9% -1.0% -0.1% -0.5% -0.5% -0.6%
Share 29.3% 29.9% 29.1% 26.7% 24.4% 23.7% 22.0% 21.1% 20.5% 19.8% 19.1% 18.3% 17.6%
RA D IO 699.7 710.1 728.7 766.1 791.4 795.1 824.1 805.7 800.0 806.4 816.6 826.8 836.8
Growth 0.4% 1.5% 2.6% 5.1% 3.3% 0.5% 3.6% -2.2% -0.7% 0.8% 1.3% 1.2% 1.2%
Share 7.6% 7.7% 7.8% 7.6% 7.3% 7.3% 7.2% 7.0% 6.9% 6.7% 6.6% 6.4% 6.3%
N EWS PAP ERS 2,736.7 2,297.4 1,838.5 1,712.9 1,433.2 1,187.2 1,095.4 997.2 925.0 855.3 812.7 773.1 743.6
Growth -15.6% -16.1% -20.0% -6.8% -16.3% -17.2% -7.7% -9.0% -7.2% -7.5% -5.0% -4.9% -3.8%
Share 29.8% 24.8% 19.7% 17.0% 13.3% 11.0% 9.6% 8.7% 7.9% 7.1% 6.5% 6.0% 5.6%
MA GA ZINE S 329.3 274.2 240.2 209.8 181.1 140.7 128.9 121.6 113.3 109.2 105.4 100.9 98.7
Growth -20.4% -16.7% -12.4% -12.7% -13.6% -22.3% -8.4% -5.7% -6.8% -3.7% -3.5% -4.3% -2.1%
Share 3.6% 3.0% 2.6% 2.1% 1.7% 1.3% 1.1% 1.1% 1.0% 0.9% 0.8% 0.8% 0.7%
O U TD OOR + CINEMA 408.7 446.4 482.3 548.2 629.5 668.2 730.8 737.4 755.6 781.1 806.5 837.0 868.9
Growth 3.3% 9.2% 8.0% 13.7% 14.8% 6.1% 9.4% 0.9% 2.5% 3.4% 3.2% 3.8% 3.8%
Share 4.5% 4.8% 5.2% 5.4% 5.8% 6.2% 6.4% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5%
IN TER N ET 2,311.1 2,756.3 3,317.6 4,158.5 5,114.4 5,473.8 6,111.3 6,356.7 6,672.2 7,094.2 7,521.9 7,983.0 8,438.0
Growth 25.6% 19.3% 20.4% 25.3% 23.0% 7.0% 11.6% 4.0% 5.0% 6.3% 6.0% 6.1% 5.7%
Share 25.2% 29.8% 35.6% 41.2% 47.5% 50.5% 53.6% 55.6% 57.3% 59.0% 60.5% 62.0% 63.3%
TO TA L $9,175.8 $9,248.3 $9,323.8 $10,096.2 $10,775.3 $10,837.6 $11,398.6 $11,429.6 $11,653.1 $12,029.8 $12,433.9 $12,879.0 $13,329.7
Growth -1.6% 0.8% 0.8% 8.3% 6.7% 0.6% 5.2% 0.3% 2.0% 3.2% 3.4% 3.6% 3.5%

AU ST RIA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $540.1 $589.1 $650.9 $688.3 $745.4 $786.4 $805.5 $801.1 $781.8 $791.4 $808.1 $825.6 $843.6
Growth 6.7% 9.1% 10.5% 5.7% 8.3% 5.5% 2.4% -0.5% -2.4% 1.2% 2.1% 2.2% 2.2%
Share 21.7% 22.9% 24.6% 24.7% 25.4% 25.4% 25.7% 25.1% 24.2% 24.1% 24.0% 24.0% 23.9%
RA D IO 149.2 150.6 155.9 161.2 172.9 179.3 187.9 205.8 208.5 211.3 215.9 220.8 225.8
Growth 3.1% 0.9% 3.5% 3.4% 7.3% 3.7% 4.8% 9.5% 1.3% 1.3% 2.2% 2.3% 2.3%
Share 6.0% 5.9% 5.9% 5.8% 5.9% 5.8% 6.0% 6.5% 6.4% 6.4% 6.4% 6.4% 6.4%
N EWS PAP ERS 1,118.4 1,144.1 1,125.6 1,174.1 1,237.5 1,308.8 1,327.1 1,344.1 1,404.5 1,407.1 1,425.5 1,440.8 1,460.5
Growth 1.6% 2.3% -1.6% 4.3% 5.4% 5.8% 1.4% 1.3% 4.5% 0.2% 1.3% 1.1% 1.4%
Share 44.9% 44.5% 42.6% 42.2% 42.2% 42.3% 42.4% 42.2% 43.4% 42.9% 42.4% 41.8% 41.4%
MA GA ZINE S 276.9 268.5 245.7 249.3 243.4 231.0 221.4 210.8 210.2 213.0 214.2 219.0 220.3
Growth -3.0% -3.0% -8.5% 1.4% -2.4% -5.1% -4.2% -4.8% -0.3% 1.3% 0.6% 2.3% 0.6%
Share 11.1% 10.4% 9.3% 9.0% 8.3% 7.5% 7.1% 6.6% 6.5% 6.5% 6.4% 6.4% 6.2%
O U TD OOR + CINE MA 199.2 196.3 205.4 228.0 234.5 252.4 237.6 261.2 246.7 250.0 255.6 261.5 267.5
Growth 3.9% -1.4% 4.6% 11.0% 2.8% 7.6% -5.8% 9.9% -5.6% 1.4% 2.2% 2.3% 2.3%
Share 8.0% 7.6% 7.8% 8.2% 8.0% 8.2% 7.6% 8.2% 7.6% 7.6% 7.6% 7.6% 7.6%
IN TER N ET 206.0 223.7 257.9 282.7 300.0 337.6 351.1 365.7 379.5 393.6 411.4 430.0 449.3
Growth 16.5% 8.6% 15.3% 9.6% 6.1% 12.5% 4.0% 4.2% 3.8% 3.7% 4.5% 4.5% 4.5%
Share 8.3% 8.7% 9.8% 10.2% 10.2% 10.9% 11.2% 11.5% 11.7% 12.0% 12.2% 12.5% 12.7%
TO TA L $2,489.8 $2,572.3 $2,641.4 $2,783.6 $2,933.7 $3,095.5 $3,130.7 $3,187.1 $3,234.9 $3,283.4 $3,361.5 $3,443.1 $3,527.6
Growth 3.5% 3.3% 2.7% 5.4% 5.4% 5.5% 1.1% 1.8% 1.5% 1.5% 2.4% 2.4% 2.5%

B AN GLADES H ( TOTA L – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $96.1 $110.5 $130.2 $136.7 $143.3 $163.4 $176.4 $169.4 $162.6 $156.1 $151.4 $148.4 $146.9
Growth 52.8% 15.0% 17.8% 5.0% 4.8% 14.0% 8.0% -4.0% -4.0% -4.0% -3.0% -2.0% -1.0%
Share 42.3% 41.4% 43.0% 40.9% 46.6% 48.5% 48.6% 47.8% 46.7% 45.3% 44.1% 43.1% 42.4%
RA D IO 11.8 23.5 30.6 35.2 35.6 39.2 38.9 34.2 30.8 28.3 26.4 24.8 23.5
Growth 1.0% 99.7% 30.0% 15.0% 1.3% 10.0% -0.8% -12.0% -10.0% -8.0% -7.0% -6.0% -5.0%
Share 5.2% 8.8% 10.1% 10.5% 11.6% 11.6% 10.7% 9.7% 8.9% 8.2% 7.7% 7.2% 6.8%
N EWS PAP ERS 89.1 98.0 102.6 118.0 87.9 92.6 101.9 101.9 101.9 101.9 101.9 101.9 101.9
Growth 15.5% 10.0% 4.7% 15.0% -25.5% 5.4% 10.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Share 39.3% 36.7% 33.9% 35.3% 28.6% 27.5% 28.1% 28.8% 29.3% 29.6% 29.6% 29.6% 29.4%
MA GA ZINE S 1.3 1.4 1.4 1.4 1.5 1.5 1.5 1.4 1.3 1.3 1.3 1.2 1.2
Growth 1.4% 9.1% -4.2% 0.4% 10.8% 0.0% -2.0% -5.0% -4.0% -3.0% -3.0% -3.0% -2.0%
Share 0.6% 0.5% 0.4% 0.4% 0.5% 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% 0.3%
O U TD OOR + CINEMA 27.5 31.8 33.6 34.1 24.3 19.3 19.3 19.1 18.9 18.7 18.7 18.7 18.7
Growth 12.4% 15.4% 5.8% 1.6% -28.8% -20.7% 0.1% -1.0% -1.0% -1.0% 0.0% 0.0% 0.0%
Share 12.1% 11.9% 11.1% 10.2% 7.9% 5.7% 5.3% 5.4% 5.4% 5.4% 5.4% 5.4% 5.4%
IN TER N ET 1.2 1.5 4.1 8.8 14.7 20.6 24.8 28.2 32.5 38.3 44.0 49.3 54.3
Growth 42.1% 30.0% 169.2% 114.3% 66.7% 40.0% 20.0% 14.0% 15.0% 18.0% 15.0% 12.0% 10.0%
Share 0.5% 0.6% 1.4% 2.6% 4.8% 6.1% 6.8% 8.0% 9.3% 11.1% 12.8% 14.3% 15.7%
TO TA L $227.0 $266.8 $302.5 $334.2 $307.4 $336.6 $362.7 $354.2 $348.0 $344.6 $343.7 $344.3 $346.5
Growth 27.3% 17.5% 13.4% 10.5% -8.0% 9.5% 7.8% -2.4% -1.8% -1.0% -0.3% 0.2% 0.6%

24 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

B E LGI UM ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $753.7 $752.5 $726.1 $771.7 $858.9 $820.0 $778.8 $732.7 $709.6 $710.9 $715.7 $714.7 $707.9
Growth -5.2% -0.2% -3.5% 6.3% 11.3% -4.5% -5.0% -5.9% -3.2% 0.2% 0.7% -0.1% -1.0%
Share 33.0% 33.0% 31.3% 32.8% 34.5% 34.2% 33.2% 32.0% 31.0% 30.9% 30.8% 30.6% 30.3%
RA D IO 316.3 320.2 338.3 324.0 340.8 353.5 355.1 363.0 367.1 366.7 370.3 369.9 369.9
Growth 3.8% 1.2% 5.7% -4.2% 5.2% 3.7% 0.5% 2.2% 1.1% -0.1% 1.0% -0.1% 0.0%
Share 13.9% 14.0% 14.6% 13.8% 13.7% 14.7% 15.1% 15.8% 16.1% 16.0% 15.9% 15.8% 15.8%
N EWS PAP ERS 454.0 442.7 427.4 360.4 371.7 313.4 299.2 277.9 259.6 256.4 249.9 251.2 248.9
Growth -14.4% -2.5% -3.4% -15.7% 3.1% -15.7% -4.5% -7.1% -6.6% -1.2% -2.5% 0.5% -0.9%
Share 19.9% 19.4% 18.4% 15.3% 14.9% 13.1% 12.8% 12.1% 11.4% 11.2% 10.8% 10.8% 10.7%
MA GA ZINE S 162.3 150.2 143.3 163.8 157.1 130.2 120.5 107.6 103.0 99.0 97.7 95.9 91.3
Growth -9.0% -7.5% -4.6% 14.3% -4.1% -17.2% -7.4% -10.7% -4.3% -3.9% -1.3% -1.8% -4.8%
Share 7.1% 6.6% 6.2% 7.0% 6.3% 5.4% 5.1% 4.7% 4.5% 4.3% 4.2% 4.1% 3.9%
O U TD OOR + CINEMA 176.9 183.9 180.3 183.3 179.9 161.0 161.7 156.9 158.9 157.5 159.0 159.8 157.6
Growth -3.6% 3.9% -2.0% 1.7% -1.9% -10.5% 0.4% -3.0% 1.3% -0.9% 1.0% 0.5% -1.4%
Share 7.7% 8.1% 7.8% 7.8% 7.2% 6.7% 6.9% 6.8% 7.0% 6.9% 6.8% 6.8% 6.7%
IN TER N ET 419.9 432.5 501.7 549.4 583.4 621.4 630.7 653.8 687.8 708.2 729.9 743.4 760.5
Growth 3.0% 3.0% 16.0% 9.5% 6.2% 6.5% 1.5% 3.7% 5.2% 3.0% 3.1% 1.8% 2.3%
Share 18.4% 19.0% 21.7% 23.4% 23.4% 25.9% 26.9% 28.5% 30.1% 30.8% 31.4% 31.8% 32.6%
TO TA L $2,283.2 $2,281.9 $2,317.1 $2,352.6 $2,491.9 $2,399.3 $2,346.1 $2,291.8 $2,286.0 $2,298.6 $2,322.6 $2,334.9 $2,336.1
Growth -4.9% -0.1% 1.5% 1.5% 5.9% -3.7% -2.2% -2.3% -0.3% 0.6% 1.0% 0.5% 0.1%

B R A Z IL ( TOTAL – USD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $5,242.7 $5,786.6 $6,333.0 $6,474.8 $6,658.9 $6,742.5 $6,843.6 $6,766.7 $6,620.2 $6,545.1 $6,433.7 $6,270.2 $6,236.3
Growth 8.6% 10.4% 9.4% 2.2% 2.8% 1.3% 1.5% -1.1% -2.2% -1.1% -1.7% -2.5% -0.5%
Share 64.1% 63.4% 62.9% 59.7% 58.0% 53.4% 51.1% 48.9% 45.6% 43.3% 40.9% 38.4% 36.7%
RA D IO 297.7 328.9 334.9 340.2 322.2 397.8 424.6 433.1 441.8 414.1 383.5 349.9 329.9
Growth 4.8% 10.5% 1.8% 1.6% -5.3% 23.5% 6.8% 2.0% 2.0% -6.3% -7.4% -8.8% -5.7%
Share 3.6% 3.6% 3.3% 3.1% 2.8% 3.1% 3.2% 3.1% 3.0% 2.7% 2.4% 2.1% 1.9%
N EWS PAP ERS 851.9 820.0 724.7 684.5 619.7 629.8 460.4 405.1 399.1 384.8 388.4 391.7 394.6
Growth 0.7% -3.7% -11.6% -5.5% -9.5% 1.6% -26.9% -12.0% -1.5% -3.6% 0.9% 0.8% 0.7%
Share 10.4% 9.0% 7.2% 6.3% 5.4% 5.0% 3.4% 2.9% 2.7% 2.5% 2.5% 2.4% 2.3%
MA GA ZINE S 484.1 447.6 371.4 329.9 294.2 301.1 230.6 246.8 259.1 261.9 264.5 266.9 269.1
Growth -5.5% -7.5% -17.0% -11.2% -10.8% 2.3% -23.4% 7.0% 5.0% 1.1% 1.0% 0.9% 0.8%
Share 5.9% 4.9% 3.7% 3.0% 2.6% 2.4% 1.7% 1.8% 1.8% 1.7% 1.7% 1.6% 1.6%
O U TD OOR + CINE MA 158.4 173.5 215.0 402.1 619.0 836.4 1,388.4 1,485.6 1,634.2 1,669.4 1,704.7 1,772.9 1,843.8
Growth 2.3% 9.5% 23.9% 87.0% 54.0% 35.1% 66.0% 7.0% 10.0% 2.2% 2.1% 4.0% 4.0%
Share 1.9% 1.9% 2.1% 3.7% 5.4% 6.6% 10.4% 10.7% 11.2% 11.0% 10.8% 10.8% 10.8%
IN TER N ET 1,149.2 1,571.6 2,087.1 2,615.2 2,967.2 3,721.6 4,053.1 4,498.9 5,173.8 5,834.0 6,538.8 7,290.6 7,922.1
Growth 41.1% 36.8% 32.8% 25.3% 13.5% 25.4% 8.9% 11.0% 15.0% 12.8% 12.1% 11.5% 8.7%
Share 14.0% 17.2% 20.7% 24.1% 25.8% 29.5% 30.2% 32.5% 35.6% 38.6% 41.6% 44.6% 46.6%
TO TA L $8,184.0 $9,128.2 $10,066.1 $10,846.7 $11,481.2 $12,629.1 $13,400.8 $13,836.3 $14,528.1 $15,109.3 $15,713.6 $16,342.2 $16,995.9
Growth 10.0% 11.5% 10.3% 7.8% 5.8% 10.0% 6.1% 3.3% 5.0% 4.0% 4.0% 4.0% 4.0%

B U LGARIA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $86.5 $88.2 $92.0 $95.8 $106.0 $109.6 $115.0 $122.8 $131.3 $137.9 $144.8 $152.0 $159.7
Growth -11.8% 2.0% 4.3% 4.1% 10.7% 3.3% 5.0% 6.8% 7.0% 5.0% 5.0% 5.0% 5.0%
Share 58.8% 61.8% 62.1% 62.5% 65.0% 63.6% 63.4% 62.9% 62.7% 62.7% 62.7% 62.7% 62.7%
RA D IO 10.4 8.3 8.5 9.0 10.6 10.4 10.2 10.4 10.6 11.1 11.6 12.2 12.8
Growth -24.0% -20.4% 3.0% 5.0% 18.6% -2.2% -2.2% 2.2% 1.7% 5.0% 5.0% 5.0% 5.0%
Share 7.1% 5.8% 5.8% 5.8% 6.5% 6.0% 5.6% 5.3% 5.0% 5.0% 5.0% 5.0% 5.0%
N EWS PAP ERS 14.3 12.6 13.0 13.0 7.8 7.5 6.3 6.1 6.1 6.4 6.7 7.1 7.4
Growth 2.4% -12.4% 3.1% 0.0% -39.6% -4.4% -16.0% -2.7% 0.0% 5.0% 5.0% 5.0% 5.0%
Share 9.7% 8.8% 8.7% 8.4% 4.8% 4.3% 3.5% 3.1% 2.9% 2.9% 2.9% 2.9% 2.9%
MA GA ZINE S 8.3 7.1 7.1 7.1 4.3 4.3 3.8 4.0 4.0 4.2 4.4 4.7 4.9
Growth -20.4% -13.6% -0.1% 0.0% -39.2% -1.3% -10.7% 5.1% -0.1% 5.0% 5.0% 5.0% 5.0%
Share 5.6% 5.0% 4.8% 4.7% 2.7% 2.5% 2.1% 2.1% 1.9% 1.9% 1.9% 1.9% 1.9%
O U TD OOR + CINEMA 19.4 18.3 18.4 18.5 8.9 9.5 9.6 10.2 10.7 11.3 11.8 12.4 13.0
Growth 1.0% -5.9% 0.6% 0.7% -52.2% 7.1% 1.2% 5.8% 5.8% 5.0% 5.0% 5.0% 5.0%
Share 13.2% 12.8% 12.4% 12.1% 5.4% 5.5% 5.3% 5.2% 5.1% 5.1% 5.1% 5.1% 5.1%
IN TER N ET 8.3 8.3 9.1 10.0 25.4 31.1 36.4 41.7 46.8 49.2 51.6 54.2 56.9
Growth 4.5% -0.7% 10.2% 10.0% 153.2% 22.2% 17.3% 14.4% 12.3% 5.0% 5.0% 5.0% 5.0%
Share 5.7% 5.8% 6.2% 6.5% 15.6% 18.0% 20.1% 21.4% 22.3% 22.3% 22.3% 22.3% 22.3%
TO TA L $147.3 $142.8 $148.1 $153.4 $163.1 $172.3 $181.3 $195.1 $209.6 $220.1 $231.1 $242.6 $254.8
Growth -9.8% -3.1% 3.8% 3.5% 6.3% 5.6% 5.2% 7.6% 7.4% 5.0% 5.0% 5.0% 5.0%

C A N ADA ( TOTAL – USD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $2,625.9 $2,690.6 $2,670.8 $2,544.5 $2,530.8 $2,431.2 $2,443.0 $2,511.4 $2,564.2 $2,610.3 $2,646.9 $2,678.6 $2,713.5
Growth -2.3% 2.5% -0.7% -4.7% -0.5% -3.9% 0.5% 2.8% 2.1% 1.8% 1.4% 1.2% 1.3%
Share 27.5% 28.1% 27.9% 25.9% 24.9% 22.6% 21.4% 20.9% 20.6% 20.2% 19.7% 19.2% 18.7%
RA D IO 1,205.7 1,217.1 1,208.7 1,198.8 1,160.0 1,137.2 1,131.5 1,125.9 1,119.1 1,111.3 1,101.3 1,094.7 1,088.1
Growth 0.6% 0.9% -0.7% -0.8% -3.2% -2.0% -0.5% -0.5% -0.6% -0.7% -0.9% -0.6% -0.6%
Share 12.6% 12.7% 12.6% 12.2% 11.4% 10.6% 9.9% 9.4% 9.0% 8.6% 8.2% 7.8% 7.5%
N EWS PAP ERS 2,495.1 2,233.4 1,970.2 1,753.4 1,622.5 1,351.7 1,284.2 1,264.9 1,247.5 1,233.5 1,219.3 1,207.1 1,193.5
Growth 4.4% -10.5% -11.8% -11.0% -7.5% -16.7% -5.0% -1.5% -1.4% -1.1% -1.2% -1.0% -1.1%
Share 26.1% 23.3% 20.6% 17.9% 15.9% 12.6% 11.2% 10.5% 10.0% 9.5% 9.1% 8.6% 8.2%
MA GA ZINE S 435.9 369.7 357.5 330.1 184.8 133.1 126.5 122.7 121.4 120.2 119.0 117.1 115.6
Growth -3.4% -15.2% -3.3% -7.7% -44.0% -28.0% -5.0% -3.0% -1.0% -1.0% -1.0% -1.6% -1.3%
Share 4.6% 3.9% 3.7% 3.4% 1.8% 1.2% 1.1% 1.0% 1.0% 0.9% 0.9% 0.8% 0.8%
O U TD OOR + CINEMA 435.1 459.5 465.5 484.6 509.7 559.1 585.0 627.6 660.8 694.5 731.0 769.8 814.7
Growth 0.4% 5.6% 1.3% 4.1% 5.2% 9.7% 4.6% 7.3% 5.3% 5.1% 5.3% 5.3% 5.8%
Share 4.6% 4.8% 4.9% 4.9% 5.0% 5.2% 5.1% 5.2% 5.3% 5.4% 5.4% 5.5% 5.6%
IN TER N ET 2,346.7 2,600.0 2,885.3 3,502.2 4,172.4 5,150.6 5,870.2 6,358.6 6,762.5 7,180.9 7,618.3 8,091.4 8,576.8
Growth 15.4% 10.8% 11.0% 21.4% 19.1% 23.4% 14.0% 8.3% 6.4% 6.2% 6.1% 6.2% 6.0%
Share 24.6% 27.2% 30.2% 35.7% 41.0% 47.9% 51.3% 52.9% 54.2% 55.4% 56.7% 58.0% 59.1%
TO TA L $9,544.3 $9,570.2 $9,558.0 $9,813.6 $10,180.3 $10,763.0 $11,440.3 $12,011.0 $12,475.6 $12,950.7 $13,435.8 $13,958.8 $14,502.2
Growth 3.8% 0.3% -0.1% 2.7% 3.7% 5.7% 6.3% 5.0% 3.9% 3.8% 3.7% 3.9% 3.9%

25 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

C H IN A ( TOTAL – USDM M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $29,757.3 $30,798.8 $30,182.8 $28,830.3 $25,961.9 $23,723.0 $21,224.6 $17,828.7 $14,828.6 $13,642.3 $12,550.9 $12,048.9 $11,566.9
Growth 6.2% 3.5% -2.0% -4.5% -9.9% -8.6% -10.5% -16.0% -16.8% -8.0% -8.0% -4.0% -4.0%
Share 54.0% 50.3% 45.8% 40.6% 34.2% 29.3% 24.7% 20.0% 16.4% 14.7% 13.5% 12.8% 12.1%
RA D IO 1,705.4 1,763.4 1,816.3 1,889.7 1,691.1 1,621.8 1,572.1 1,375.1 1,193.9 1,122.3 1,066.2 1,012.9 962.2
Growth 10.7% 3.4% 3.0% 4.0% -10.5% -4.1% -3.1% -12.5% -13.2% -6.0% -5.0% -5.0% -5.0%
Share 3.1% 2.9% 2.8% 2.7% 2.2% 2.0% 1.8% 1.5% 1.3% 1.2% 1.1% 1.1% 1.0%
N EWS PAP ERS 6,125.4 5,819.1 4,690.2 2,908.0 1,580.8 1,081.8 739.4 628.2 528.9 465.4 409.6 368.6 331.8
Growth -6.7% -5.0% -19.4% -38.0% -45.6% -31.6% -31.7% -15.0% -15.8% -12.0% -12.0% -10.0% -10.0%
Share 11.1% 9.5% 7.1% 4.1% 2.1% 1.3% 0.9% 0.7% 0.6% 0.5% 0.4% 0.4% 0.3%
MA GA ZINE S 1,347.2 1,347.2 1,146.5 936.5 650.9 498.7 465.1 444.1 423.1 410.4 398.0 390.1 386.2
Growth 7.9% 0.0% -14.9% -18.3% -30.5% -23.4% -6.7% -4.5% -4.7% -3.0% -3.0% -2.0% -1.0%
Share 2.4% 2.2% 1.7% 1.3% 0.9% 0.6% 0.5% 0.5% 0.5% 0.4% 0.4% 0.4% 0.4%
O U TD OOR + CINE MA 5,485.5 5,850.3 6,177.9 6,400.7 6,734.2 7,241.2 7,458.5 7,077.3 6,697.0 6,897.9 7,104.8 7,460.1 7,833.1
Growth 17.5% 6.6% 5.6% 3.6% 5.2% 7.5% 3.0% -5.1% -5.4% 3.0% 3.0% 5.0% 5.0%
Share 10.0% 9.6% 9.4% 9.0% 8.9% 9.0% 8.7% 7.9% 7.4% 7.5% 7.6% 7.9% 8.2%
IN TER N ET 10,700.8 15,629.9 21,819.3 30,035.2 39,263.5 46,706.4 54,448.0 61,752.2 66,692.4 70,027.0 71,427.5 72,856.1 74,313.2
Growth 46.8% 46.1% 39.6% 37.7% 30.7% 19.0% 16.6% 13.4% 8.0% 5.0% 2.0% 2.0% 2.0%
Share 19.4% 25.5% 33.1% 42.3% 51.7% 57.8% 63.4% 69.3% 73.8% 75.7% 76.8% 77.4% 77.9%
TO TA L $55,121.5 $61,208.6 $65,832.9 $71,000.4 $75,882.4 $80,872.9 $85,907.7 $89,105.7 $90,363.8 $92,565.2 $92,957.0 $94,136.6 $95,393.3
Growth 11.7% 11.0% 7.6% 7.8% 6.9% 6.6% 6.2% 3.7% 1.4% 2.4% 0.4% 1.3% 1.3%

C O LO MBIA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $609.5 $698.3 $772.3 $804.3 $875.2 $960.3 $906.0 $907.8 $937.9 $964.1 $1,007.0 $1,040.3 $1,083.9
Growth 0.2% 14.6% 10.6% 4.2% 8.8% 9.7% -5.6% 0.2% 3.3% 2.8% 4.5% 3.3% 4.2%
Share 55.1% 56.0% 56.5% 55.8% 58.4% 59.3% 59.2% 58.4% 58.3% 57.9% 57.6% 56.4% 55.7%
RA D IO 110.0 125.1 142.2 155.1 152.6 153.4 154.1 153.9 160.9 166.5 171.3 175.2 179.0
Growth -8.6% 13.8% 13.7% 9.1% -1.6% 0.5% 0.5% -0.2% 4.5% 3.5% 2.9% 2.3% 2.2%
Share 9.9% 10.0% 10.4% 10.8% 10.2% 9.5% 10.1% 9.9% 10.0% 10.0% 9.8% 9.5% 9.2%
N EWS PAP ERS 241.3 256.2 267.8 257.9 233.3 234.4 179.8 163.2 160.9 158.2 157.4 154.9 155.7
Growth 10.0% 6.2% 4.5% -3.7% -9.6% 0.5% -23.3% -9.2% -1.4% -1.7% -0.5% -1.5% 0.5%
Share 21.8% 20.5% 19.6% 17.9% 15.6% 14.5% 11.7% 10.5% 10.0% 9.5% 9.0% 8.4% 8.0%
MA GA ZINE S 72.6 76.7 75.7 74.1 67.6 66.2 35.8 32.6 33.8 33.3 31.5 29.5 29.2
Growth 6.2% 5.7% -1.3% -2.0% -8.9% -2.0% -46.0% -8.8% 3.5% -1.4% -5.5% -6.2% -1.1%
Share 6.6% 6.2% 5.5% 5.1% 4.5% 4.1% 2.3% 2.1% 2.1% 2.0% 1.8% 1.6% 1.5%
O U TD OOR + CINEMA 24.3 25.8 33.2 36.1 34.5 36.3 36.6 38.9 41.8 43.3 45.5 48.0 50.6
Growth 27.8% 5.8% 29.0% 8.7% -4.3% 5.0% 0.9% 6.2% 7.6% 3.5% 5.0% 5.5% 5.5%
Share 2.2% 2.1% 2.4% 2.5% 2.3% 2.2% 2.4% 2.5% 2.6% 2.6% 2.6% 2.6% 2.6%
IN TER N ET 48.6 64.6 76.7 112.8 135.1 168.8 219.0 258.0 273.5 299.7 335.7 396.6 447.6
Growth 28.4% 32.9% 18.7% 47.0% 19.8% 25.0% 29.7% 17.8% 6.0% 9.6% 12.0% 18.1% 12.9%
Share 4.4% 5.2% 5.6% 7.8% 9.0% 10.4% 14.3% 16.6% 17.0% 18.0% 19.2% 21.5% 23.0%
TO TA L $1,106.3 $1,246.6 $1,367.8 $1,440.4 $1,498.3 $1,619.4 $1,531.4 $1,554.4 $1,608.8 $1,665.1 $1,748.3 $1,844.5 $1,945.9
Growth 3.1% 12.7% 9.7% 5.3% 4.0% 8.1% -5.4% 1.5% 3.5% 3.5% 5.0% 5.5% 5.5%

C ROATIA ( TOTAL – USD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $108.0 $105.8 $107.1 $110.9 $114.6 $111.0 $113.6 $117.2 $121.3 $125.6 $130.0 $134.5 $139.2
Growth -5.8% -2.1% 1.3% 3.5% 3.4% -3.1% 2.3% 3.2% 3.5% 3.5% 3.5% 3.5% 3.5%
Share 47.9% 49.4% 51.2% 51.4% 51.7% 50.9% 50.6% 50.6% 50.6% 50.6% 50.6% 50.6% 50.6%
RA D IO 24.4 18.7 19.8 19.5 19.2 19.0 19.3 19.4 19.7 20.4 21.1 21.8 22.6
Growth -14.2% -23.3% 5.6% -1.5% -1.5% -0.8% 1.2% 1.0% 1.1% 3.5% 3.5% 3.5% 3.5%
Share 10.8% 8.7% 9.4% 9.0% 8.6% 8.7% 8.6% 8.4% 8.2% 8.2% 8.2% 8.2% 8.2%
N EWS PAP ERS 38.8 34.3 27.7 24.0 21.0 17.6 15.9 15.8 15.6 15.9 15.9 16.0 16.5
Growth -15.1% -11.6% -19.2% -13.5% -12.5% -15.9% -9.8% -0.9% -1.1% 1.9% 0.3% 0.2% 3.5%
Share 17.2% 16.0% 13.2% 11.1% 9.5% 8.1% 7.1% 6.8% 6.5% 6.4% 6.2% 6.0% 6.0%
MA GA ZINE S 22.9 20.2 18.3 17.2 16.5 14.4 12.7 12.7 12.5 12.4 12.3 12.0 11.0
Growth -11.0% -11.8% -9.6% -5.7% -4.3% -12.5% -11.8% 0.2% -2.1% -0.5% -0.6% -3.0% -8.0%
Share 10.2% 9.4% 8.7% 8.0% 7.4% 6.6% 5.7% 5.5% 5.2% 5.0% 4.8% 4.5% 4.0%
O U TD OOR + CINEMA 16.5 18.0 18.9 19.2 19.2 19.2 20.5 21.3 22.1 22.8 23.6 24.5 25.3
Growth -16.7% 9.1% 5.0% 1.6% 0.0% 0.0% 7.0% 3.9% 3.5% 3.5% 3.5% 3.5% 3.5%
Share 7.3% 8.4% 9.0% 8.9% 8.6% 8.8% 9.1% 9.2% 9.2% 9.2% 9.2% 9.2% 9.2%
IN TER N ET 15.0 17.2 17.5 25.2 31.5 36.7 42.6 45.7 48.7 51.2 54.0 57.2 60.6
Growth 20.5% 15.0% 1.7% 43.6% 25.0% 16.7% 15.9% 7.4% 6.6% 5.0% 5.5% 6.0% 5.9%
Share 6.6% 8.0% 8.4% 11.7% 14.2% 16.8% 19.0% 19.7% 20.3% 20.6% 21.0% 21.5% 22.0%
TO TA L $225.7 $214.3 $209.3 $215.9 $221.9 $218.0 $224.5 $231.7 $239.8 $248.2 $256.9 $265.9 $275.2
Growth -8.6% -5.0% -2.3% 3.1% 2.8% -1.8% 3.0% 3.2% 3.5% 3.5% 3.5% 3.5% 3.5%

C Z E C H REPUBLIC ( TO TA L – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $354.8 $317.9 $341.6 $373.0 $394.6 $436.5 $472.3 $504.4 $530.6 $558.2 $576.1 $593.4 $611.2
Growth -2.7% -10.4% 7.5% 9.2% 5.8% 10.6% 8.2% 6.8% 5.2% 5.2% 3.2% 3.0% 3.0%
Share 40.7% 37.6% 38.8% 40.6% 41.8% 43.8% 45.2% 46.2% 46.9% 47.5% 47.5% 47.5% 47.5%
RA D IO 44.7 41.1 38.9 37.1 36.4 34.9 34.2 34.4 34.6 34.7 35.8 36.9 38.0
Growth -13.4% -8.1% -5.5% -4.4% -2.0% -4.0% -2.0% 0.5% 0.5% 0.5% 3.2% 3.0% 3.0%
Share 5.1% 4.9% 4.4% 4.0% 3.9% 3.5% 3.3% 3.1% 3.1% 3.0% 3.0% 3.0% 3.0%
N EWS PAP ERS 66.2 62.3 56.0 52.9 51.1 49.8 48.4 46.4 44.6 42.8 44.2 45.5 46.9
Growth -11.0% -6.0% -10.1% -5.5% -3.5% -2.5% -2.8% -4.0% -4.0% -4.0% 3.2% 3.0% 3.0%
Share 7.6% 7.4% 6.4% 5.8% 5.4% 5.0% 4.6% 4.3% 3.9% 3.6% 3.6% 3.6% 3.6%
MA GA ZINE S 88.1 85.3 80.2 79.0 78.2 77.0 76.0 74.1 72.3 70.5 72.7 74.9 77.2
Growth -8.5% -3.2% -6.0% -1.5% -1.0% -1.5% -1.3% -2.5% -2.5% -2.5% 3.2% 3.0% 3.0%
Share 10.1% 10.1% 9.1% 8.6% 8.3% 7.7% 7.3% 6.8% 6.4% 6.0% 6.0% 6.0% 6.0%
O U TD OOR + CINEMA 57.8 54.0 54.6 55.8 57.5 58.9 55.9 54.5 53.5 52.4 54.1 55.7 57.4
Growth -12.0% -6.5% 1.0% 2.2% 3.0% 2.5% -5.0% -2.5% -2.0% -2.0% 3.2% 3.0% 3.0%
Share 6.6% 6.4% 6.2% 6.1% 6.1% 5.9% 5.4% 5.0% 4.7% 4.5% 4.5% 4.5% 4.5%
IN TER N ET 260.2 284.6 308.6 320.8 326.7 339.0 358.1 377.4 396.7 415.8 429.1 442.0 455.3
Growth 11.1% 9.4% 8.5% 3.9% 1.9% 3.8% 5.6% 5.4% 5.1% 4.8% 3.2% 3.0% 3.0%
Share 29.8% 33.7% 35.1% 34.9% 34.6% 34.0% 34.3% 34.6% 35.0% 35.4% 35.4% 35.4% 35.4%
TO TA L $871.9 $845.2 $879.9 $918.6 $944.5 $996.1 $1,044.9 $1,091.3 $1,132.2 $1,174.5 $1,212.0 $1,248.4 $1,285.8
Growth -1.7% -3.1% 4.1% 4.4% 2.8% 5.5% 4.9% 4.4% 3.7% 3.7% 3.2% 3.0% 3.0%

26 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

D E N M ARK ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $351.5 $330.4 $324.4 $329.3 $326.5 $322.8 $308.7 $309.5 $312.5 $326.6 $341.8 $358.3 $376.2
Growth -6.6% -6.0% -1.8% 1.5% -0.9% -1.1% -4.4% 0.3% 1.0% 4.5% 4.7% 4.8% 5.0%
Share 18.4% 17.4% 16.8% 16.4% 16.3% 15.8% 14.9% 15.2% 15.5% 16.0% 16.5% 17.0% 17.5%
RA D IO 39.6 43.1 45.9 49.2 55.5 58.0 61.1 59.1 56.5 55.1 53.9 53.8 53.8
Growth -1.9% 8.7% 6.6% 7.2% 12.8% 4.6% 5.4% -3.4% -4.4% -2.4% -2.3% -0.2% 0.0%
Share 2.1% 2.3% 2.4% 2.5% 2.8% 2.8% 2.9% 2.9% 2.8% 2.7% 2.6% 2.6% 2.5%
N EWS PAP ERS 662.6 617.4 574.2 529.8 475.4 424.7 371.2 310.5 260.4 219.4 212.8 206.0 197.2
Growth -9.8% -6.8% -7.0% -7.7% -10.3% -10.7% -12.6% -16.4% -16.1% -15.7% -3.0% -3.2% -4.3%
Share 34.7% 32.4% 29.7% 26.4% 23.7% 20.8% 17.9% 15.3% 12.9% 10.8% 10.3% 9.8% 9.2%
MA GA ZINE S 109.6 98.7 94.0 82.5 70.4 61.0 43.8 25.0 22.8 21.0 19.3 17.5 15.7
Growth -19.1% -10.0% -4.7% -12.2% -14.7% -13.4% -28.2% -42.8% -9.0% -7.7% -8.3% -9.2% -10.3%
Share 5.7% 5.2% 4.9% 4.1% 3.5% 3.0% 2.1% 1.2% 1.1% 1.0% 0.9% 0.8% 0.7%
O U TD OOR + CINEMA 80.1 73.1 71.6 75.0 73.0 76.2 86.1 90.8 93.9 99.2 100.7 102.4 104.5
Growth -10.1% -8.8% -2.0% 4.8% -2.8% 4.5% 12.9% 5.5% 3.4% 5.6% 1.5% 1.8% 2.0%
Share 4.2% 3.8% 3.7% 3.7% 3.6% 3.7% 4.1% 4.5% 4.7% 4.9% 4.9% 4.9% 4.9%
IN TER N ET 668.4 740.1 824.9 941.4 1,004.3 1,100.0 1,204.9 1,239.4 1,267.9 1,317.8 1,341.3 1,367.9 1,400.7
Growth 11.3% 10.7% 11.5% 14.1% 6.7% 9.5% 9.5% 2.9% 2.3% 3.9% 1.8% 2.0% 2.4%
Share 35.0% 38.9% 42.6% 46.9% 50.1% 53.8% 58.0% 60.9% 63.0% 64.6% 64.8% 65.0% 65.2%
TO TA L $1,911.8 $1,902.7 $1,935.0 $2,007.3 $2,005.0 $2,042.7 $2,075.9 $2,034.3 $2,014.0 $2,039.2 $2,069.8 $2,106.0 $2,148.1
Growth -3.3% -0.5% 1.7% 3.7% -0.1% 1.9% 1.6% -2.0% -1.0% 1.3% 1.5% 1.8% 2.0%

E C U A DOR ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $247.3 $251.8 $260.7 $225.8 $168.4 $153.3 $145.3 $137.8 $140.6 $141.1 $142.9 $144.8 $148.0
Growth 13.3% 1.8% 3.5% -13.4% -25.4% -9.0% -5.2% -5.2% 2.0% 0.4% 1.3% 1.4% 2.2%
Share 62.1% 64.0% 62.3% 58.5% 56.3% 53.2% 50.9% 49.3% 51.2% 51.9% 52.3% 52.5% 53.1%
RA D IO 21.2 20.5 29.8 52.2 40.8 39.1 34.9 32.0 36.2 37.0 37.7 38.9 39.8
Growth 10.6% -3.7% 45.7% 75.3% -21.9% -4.1% -10.7% -8.5% 13.4% 2.0% 2.0% 3.2% 2.4%
Share 5.3% 5.2% 7.1% 13.5% 13.7% 13.6% 12.2% 11.4% 13.2% 13.6% 13.8% 14.1% 14.3%
N EWS PAP E RS 99.6 91.7 91.2 70.9 55.8 54.1 58.9 46.7 50.8 47.8 48.9 48.3 47.1
Growth 11.9% -8.0% -0.5% -22.3% -21.3% -3.1% 8.9% -20.8% 8.9% -5.8% 2.2% -1.3% -2.5%
Share 25.0% 23.3% 21.8% 18.4% 18.7% 18.8% 20.6% 16.7% 18.5% 17.6% 17.9% 17.5% 16.9%
MA GA ZINE S 18.4 16.3 13.1 11.6 10.4 10.2 9.6 7.7 7.7 5.7 5.2 5.0 4.2
Growth -0.7% -11.5% -19.4% -11.5% -10.3% -2.4% -5.8% -19.4% -0.5% -25.8% -9.1% -4.3% -15.8%
Share 4.6% 4.1% 3.1% 3.0% 3.5% 3.5% 3.4% 2.8% 2.8% 2.1% 1.9% 1.8% 1.5%
O U TD OOR + CINEMA 11.9 13.1 23.9 25.6 23.4 23.6 25.8 24.0 26.1 24.7 22.1 21.8 20.9
Growth -3.0% 10.3% 82.3% 6.8% -8.4% 0.7% 9.4% -6.9% 8.5% -5.2% -10.5% -1.5% -4.1%
Share 3.0% 3.3% 5.7% 6.6% 7.8% 8.2% 9.0% 8.6% 9.5% 9.1% 8.1% 7.9% 7.5%
IN TER N ET 0.0 0.0 0.0 0.0 0.0 8.0 11.0 10.8 13.2 15.5 16.4 17.1 18.7
Growth ------ ------ ------ ------ ------ ------ 37.5% -2.1% 22.4% 17.6% 5.8% 4.4% 9.1%
Share 0.0% 0.0% 0.0% 0.0% 0.0% 2.8% 3.9% 3.9% 4.8% 5.7% 6.0% 6.2% 6.7%
TO TA L $398.5 $393.4 $418.8 $386.1 $298.9 $288.3 $285.6 $279.6 $274.5 $271.8 $273.2 $275.9 $278.7
Growth 11.5% -1.3% 6.5% -7.8% -22.6% -3.5% -0.9% -2.1% -1.8% -1.0% 0.5% 1.0% 1.0%

E ST ONIA ( TOTAL – USD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $24.9 $26.9 $27.9 $28.4 $28.2 $28.6 $29.5 $29.5 $29.6 $29.7 $29.6 $29.5 $29.2
Growth -2.3% 7.8% 3.8% 1.8% -0.9% 1.5% 3.1% 0.1% 0.4% 0.1% -0.2% -0.5% -0.8%
Share 30.8% 31.5% 31.2% 30.1% 29.4% 27.7% 27.8% 25.8% 25.9% 25.5% 25.1% 24.6% 23.8%
RA D IO 8.2 8.4 9.6 9.9 10.4 11.6 12.7 12.9 13.1 13.6 14.2 14.8 15.3
Growth 2.2% 3.1% 13.4% 3.3% 5.5% 11.6% 9.1% 1.5% 1.5% 4.3% 4.2% 4.0% 3.8%
Share 10.1% 9.9% 10.7% 10.5% 10.9% 11.3% 11.9% 11.3% 11.4% 11.7% 12.1% 12.3% 12.5%
N EWS PAP ERS 21.7 20.7 19.9 20.0 18.8 18.7 18.6 18.1 17.5 17.1 16.6 16.2 15.8
Growth -1.9% -4.4% -3.7% 0.4% -6.0% -0.5% -0.4% -2.9% -3.0% -2.5% -2.6% -2.7% -2.7%
Share 26.8% 24.3% 22.3% 21.2% 19.6% 18.1% 17.5% 15.8% 15.3% 14.7% 14.1% 13.5% 12.9%
MA GA ZINE S 5.3 5.8 6.2 6.4 5.9 4.9 4.8 4.6 4.5 4.7 5.1 5.7 6.4
Growth 3.2% 8.6% 7.3% 3.2% -8.7% -15.8% -3.4% -2.7% -2.8% 4.4% 8.2% 11.6% 13.7%
Share 6.6% 6.8% 6.9% 6.8% 6.1% 4.8% 4.5% 4.0% 3.9% 4.0% 4.3% 4.7% 5.3%
O U TD OOR + CINEMA 7.4 8.7 9.3 10.4 11.5 17.0 18.0 18.3 18.5 19.8 21.0 22.3 23.6
Growth 0.5% 17.3% 7.1% 11.5% 10.3% 48.2% 6.1% 1.3% 1.3% 6.9% 6.4% 6.0% 5.7%
Share 9.2% 10.2% 10.4% 11.0% 12.0% 16.5% 17.0% 16.0% 16.2% 17.0% 17.9% 18.6% 19.2%
IN TER N ET 13.4 14.8 16.6 19.3 21.1 22.5 22.6 31.1 31.1 31.4 31.2 31.6 32.2
Growth 7.0% 10.4% 11.8% 16.3% 9.7% 6.4% 0.5% 37.4% 0.3% 0.9% -0.7% 1.2% 2.1%
Share 16.6% 17.3% 18.5% 20.4% 22.0% 21.8% 21.3% 27.1% 27.2% 27.0% 26.5% 26.3% 26.3%
TO TA L $80.9 $85.3 $89.5 $94.4 $95.8 $103.3 $106.2 $114.4 $114.4 $116.3 $117.8 $120.0 $122.6
Growth 0.3% 5.4% 4.9% 5.4% 1.6% 7.8% 2.8% 7.7% 0.0% 1.7% 1.3% 1.9% 2.2%

FIN LA ND ( TOTAL – USD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $312.9 $306.4 $295.5 $285.7 $282.7 $268.2 $268.6 $276.4 $280.5 $284.2 $287.9 $291.6 $295.4
Growth -1.1% -2.1% -3.5% -3.3% -1.1% -5.1% 0.2% 2.9% 1.5% 1.3% 1.3% 1.3% 1.3%
Share 21.3% 22.7% 22.5% 22.2% 21.7% 20.5% 20.1% 20.3% 20.3% 20.3% 20.3% 20.3% 20.3%
RA D IO 61.9 58.4 64.0 66.3 68.2 70.9 74.5 80.3 84.3 88.2 92.2 96.2 100.4
Growth -3.1% -5.6% 9.6% 3.7% 2.9% 3.9% 5.0% 7.8% 4.9% 4.6% 4.5% 4.4% 4.3%
Share 4.2% 4.3% 4.9% 5.1% 5.2% 5.4% 5.6% 5.9% 6.1% 6.3% 6.5% 6.7% 6.9%
N EWS PAP ERS 641.9 540.9 499.1 467.9 446.4 404.2 361.9 310.4 287.4 263.2 238.2 212.6 186.3
Growth -0.8% -15.7% -7.7% -6.2% -4.6% -9.5% -10.5% -14.2% -7.4% -8.4% -9.5% -10.8% -12.4%
Share 43.8% 40.1% 38.0% 36.3% 34.2% 30.9% 27.1% 22.8% 20.8% 18.8% 16.8% 14.8% 12.8%
MA GA ZINE S 150.9 125.5 106.3 92.0 83.9 80.5 78.6 65.3 60.8 57.4 55.3 53.1 50.9
Growth -13.7% -16.8% -15.3% -13.4% -8.9% -4.0% -2.4% -16.9% -7.0% -5.6% -3.6% -3.9% -4.2%
Share 10.3% 9.3% 8.1% 7.1% 6.4% 6.2% 5.9% 4.8% 4.4% 4.1% 3.9% 3.7% 3.5%
O U TD OOR + CINE MA 50.7 49.7 52.7 58.1 61.1 71.3 81.8 100.7 106.4 112.0 117.7 123.5 129.5
Growth -3.2% -2.0% 6.1% 10.2% 5.2% 16.6% 14.7% 23.2% 5.6% 5.2% 5.1% 5.0% 4.8%
Share 3.5% 3.7% 4.0% 4.5% 4.7% 5.4% 6.1% 7.4% 7.7% 8.0% 8.3% 8.6% 8.9%
IN TER N ET 248.4 266.9 295.8 319.6 362.3 413.7 469.3 528.2 562.4 594.9 626.8 659.3 692.6
Growth 1.7% 7.5% 10.8% 8.0% 13.4% 14.2% 13.4% 12.5% 6.5% 5.8% 5.4% 5.2% 5.1%
Share 16.9% 19.8% 22.5% 24.8% 27.8% 31.6% 35.2% 38.8% 40.7% 42.5% 44.2% 45.9% 47.6%
TO TA L $1,466.7 $1,347.9 $1,313.4 $1,289.6 $1,304.7 $1,308.8 $1,334.7 $1,361.4 $1,381.9 $1,399.8 $1,418.0 $1,436.5 $1,455.1
Growth -2.2% -8.1% -2.6% -1.8% 1.2% 0.3% 2.0% 2.0% 1.5% 1.3% 1.3% 1.3% 1.3%

27 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

FR A N CE ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $3,654.0 $3,524.8 $3,528.1 $3,550.0 $3,563.1 $3,598.2 $3,679.2 $3,682.5 $3,662.8 $3,608.0 $3,569.7 $3,563.1 $3,575.2
Growth -4.5% -3.5% 0.1% 0.6% 0.4% 1.0% 2.3% 0.1% -0.5% -1.5% -1.1% -0.2% 0.3%
Share 27.9% 27.7% 28.0% 28.2% 27.8% 27.4% 26.4% 25.3% 24.3% 23.2% 22.4% 21.9% 21.4%
RA D IO 820.7 817.3 806.2 800.7 790.7 770.7 768.5 780.7 791.8 794.0 786.2 780.7 782.9
Growth -1.2% -0.4% -1.4% -0.7% -1.2% -2.5% -0.3% 1.6% 1.4% 0.3% -1.0% -0.7% 0.3%
Share 6.3% 6.4% 6.4% 6.4% 6.2% 5.9% 5.5% 5.4% 5.3% 5.1% 4.9% 4.8% 4.7%
N EWS PAP ERS 1,792.3 1,668.4 1,519.3 1,346.1 1,257.9 1,189.6 1,138.2 1,071.0 1,017.4 971.2 934.5 871.5 840.0
Growth -10.2% -6.9% -8.9% -11.4% -6.6% -5.4% -4.3% -5.9% -5.0% -4.5% -3.8% -6.7% -3.6%
Share 13.7% 13.1% 12.0% 10.7% 9.8% 9.1% 8.2% 7.4% 6.7% 6.3% 5.9% 5.3% 5.0%
MA GA ZINE S 1,663.4 1,496.0 1,369.7 1,294.4 1,205.7 1,089.3 988.5 908.7 858.8 813.4 775.7 731.4 698.2
Growth -5.8% -10.1% -8.4% -5.5% -6.8% -9.7% -9.3% -8.1% -5.5% -5.3% -4.6% -5.7% -4.5%
Share 12.7% 11.7% 10.9% 10.3% 9.4% 8.3% 7.1% 6.3% 5.7% 5.2% 4.9% 4.5% 4.2%
O U TD OOR + CINE MA 1,486.6 1,448.2 1,462.1 1,457.5 1,508.7 1,485.4 1,487.8 1,537.9 1,567.0 1,575.1 1,560.0 1,555.3 1,535.5
Growth -2.5% -2.6% 1.0% -0.3% 3.5% -1.5% 0.2% 3.4% 1.9% 0.5% -1.0% -0.3% -1.3%
Share 11.4% 11.4% 11.6% 11.6% 11.8% 11.3% 10.7% 10.6% 10.4% 10.1% 9.8% 9.5% 9.2%
IN TER N ET 3,658.0 3,781.3 3,932.5 4,155.2 4,469.5 5,007.7 5,864.0 6,550.2 7,177.7 7,764.8 8,305.4 8,793.5 9,271.8
Growth 5.4% 3.4% 4.0% 5.7% 7.6% 12.0% 17.1% 11.7% 9.6% 8.2% 7.0% 5.9% 5.4%
Share 28.0% 29.7% 31.2% 33.0% 34.9% 38.1% 42.1% 45.1% 47.6% 50.0% 52.1% 54.0% 55.5%
TO TA L $13,075.0 $12,736.0 $12,618.0 $12,603.7 $12,795.6 $13,141.0 $13,926.1 $14,530.9 $15,075.5 $15,526.6 $15,931.6 $16,295.4 $16,703.5
Growth -2.5% -2.6% -0.9% -0.1% 1.5% 2.7% 6.0% 4.3% 3.7% 3.0% 2.6% 2.3% 2.5%

GE RMANY ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $4,509.9 $4,607.5 $4,790.8 $4,939.0 $5,092.9 $5,128.0 $5,067.7 $5,042.4 $5,092.3 $5,169.6 $5,169.6 $5,117.8 $5,015.1
Growth 1.4% 2.2% 4.0% 3.1% 3.1% 0.7% -1.2% -0.5% 1.0% 1.5% 0.0% -1.0% -2.0%
Share 23.1% 23.6% 24.2% 24.7% 25.0% 24.5% 24.0% 23.7% 23.8% 23.9% 23.4% 22.8% 21.8%
RA D IO 803.8 833.4 823.9 829.7 857.3 875.7 881.5 890.4 899.3 917.2 935.6 944.9 954.4
Growth 1.5% 3.7% -1.1% 0.7% 3.3% 2.1% 0.7% 1.0% 1.0% 2.0% 2.0% 1.0% 1.0%
Share 4.1% 4.3% 4.2% 4.1% 4.2% 4.2% 4.2% 4.2% 4.2% 4.2% 4.2% 4.2% 4.1%
N EWS PAP ERS 5,772.0 5,252.5 5,063.4 4,744.4 4,524.8 4,253.3 3,968.3 3,690.5 3,358.4 3,056.4 2,750.4 2,433.8 2,153.5
Growth -8.0% -9.0% -3.6% -6.3% -4.6% -6.0% -6.7% -7.0% -9.0% -9.0% -10.0% -11.5% -11.5%
Share 29.6% 26.9% 25.5% 23.7% 22.2% 20.3% 18.8% 17.3% 15.7% 14.1% 12.5% 10.8% 9.3%
MA GA ZINE S 2,480.6 2,461.0 2,387.9 2,251.6 2,187.9 2,132.1 2,076.2 2,020.7 1,957.4 1,888.0 1,814.2 1,729.3 1,652.9
Growth -4.1% -0.8% -3.0% -5.7% -2.8% -2.6% -2.6% -2.7% -3.1% -3.5% -3.9% -4.7% -4.4%
Share 12.7% 12.6% 12.0% 11.2% 10.7% 10.2% 9.8% 9.5% 9.1% 8.7% 8.2% 7.7% 7.2%
O U TD OOR + CINE MA 1,068.1 1,084.9 1,124.6 1,229.3 1,252.4 1,389.5 1,388.0 1,466.9 1,511.7 1,556.2 1,601.0 1,587.3 1,570.8
Growth 6.7% 1.6% 3.7% 9.3% 1.9% 10.9% -0.1% 5.7% 3.1% 2.9% 2.9% -0.9% -1.0%
Share 5.5% 5.6% 5.7% 6.1% 6.1% 6.6% 6.6% 6.9% 7.1% 7.2% 7.3% 7.1% 6.8%
IN TER N ET 4,888.4 5,252.7 5,636.6 6,029.4 6,466.9 7,164.3 7,727.9 8,191.5 8,601.1 9,031.2 9,799.2 10,680.9 11,695.6
Growth 9.5% 7.5% 7.3% 7.0% 7.3% 10.8% 7.9% 6.0% 5.0% 5.0% 8.5% 9.0% 9.5%
Share 25.0% 26.9% 28.4% 30.1% 31.7% 34.2% 36.6% 38.5% 40.2% 41.8% 44.4% 47.5% 50.8%
TO TA L $19,522.8 $19,491.9 $19,827.1 $20,023.3 $20,382.3 $20,942.8 $21,109.6 $21,302.3 $21,420.2 $21,618.5 $22,069.9 $22,494.1 $23,042.3
Growth -0.2% -0.2% 1.7% 1.0% 1.8% 2.8% 0.8% 0.9% 0.6% 0.9% 2.1% 1.9% 2.4%

GR E E CE ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $475.8 $580.8 $663.5 $502.6 $359.7 $374.2 $402.1 $403.2 $416.7 $424.2 $431.8 $439.6 $447.5
Growth -16.8% 22.1% 14.2% -24.2% -28.4% 4.0% 7.5% 0.3% 3.3% 1.8% 1.8% 1.8% 1.8%
Share 36.7% 43.0% 45.8% 44.4% 32.5% 32.0% 36.4% 35.8% 36.4% 36.4% 36.4% 36.4% 36.4%
RA D IO 62.3 64.8 83.8 83.8 94.9 96.1 97.2 98.9 100.7 102.5 104.4 106.2 108.2
Growth -27.5% 3.9% 29.3% 0.0% 13.3% 1.2% 1.2% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 4.8% 4.8% 5.8% 7.4% 8.6% 8.2% 8.8% 8.8% 8.8% 8.8% 8.8% 8.8% 8.8%
N EWS PAP ERS 250.9 248.0 227.9 167.5 244.6 251.3 201.0 204.7 208.4 212.1 215.9 219.8 223.8
Growth -28.9% -1.2% -8.1% -26.5% 46.0% 2.7% -20.0% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 19.3% 18.4% 15.7% 14.8% 22.1% 21.5% 18.2% 18.2% 18.2% 18.2% 18.2% 18.2% 18.2%
MA GA ZINE S 368.7 301.6 312.7 201.0 223.4 245.7 189.9 193.3 196.8 200.3 203.9 207.6 211.3
Growth -39.2% -18.2% 3.7% -35.7% 11.1% 10.0% -22.7% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 28.4% 22.3% 21.6% 17.8% 20.2% 21.0% 17.2% 17.2% 17.2% 17.2% 17.2% 17.2% 17.2%
O U TD OOR + CINE MA 29.5 34.1 30.2 39.1 27.9 33.5 35.7 36.4 37.0 37.7 38.4 39.1 39.8
Growth -64.3% 15.5% -11.5% 29.6% -28.6% 20.0% 6.7% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 2.3% 2.5% 2.1% 3.5% 2.5% 2.9% 3.2% 3.2% 3.2% 3.2% 3.2% 3.2% 3.2%
IN TER N ET 109.5 121.7 131.8 138.5 156.4 169.8 179.8 184.3 195.5 204.4 211.1 214.5 223.4
Growth 6.5% 11.2% 8.3% 5.1% 12.9% 8.6% 5.9% 2.5% 6.1% 4.6% 3.3% 1.6% 4.2%
Share 8.4% 9.0% 9.1% 12.2% 14.1% 14.5% 16.3% 16.4% 17.1% 17.5% 17.8% 17.7% 18.2%
TO TA L $1,296.7 $1,350.9 $1,449.8 $1,132.6 $1,106.9 $1,170.6 $1,105.8 $1,125.7 $1,145.9 $1,166.6 $1,187.6 $1,208.9 $1,230.7
Growth -28.1% 4.2% 7.3% -21.9% -2.3% 5.8% -5.5% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%

H O N G KONG ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $685.7 $707.0 $736.7 $676.3 $574.2 $534.0 $550.0 $506.0 $521.2 $536.9 $563.7 $580.6 $598.0
Growth 11.7% 3.1% 4.2% -8.2% -15.1% -7.0% 3.0% -8.0% 3.0% 3.0% 5.0% 3.0% 3.0%
Share 30.5% 28.7% 28.3% 25.8% 23.4% 22.2% 21.4% 21.3% 21.0% 20.3% 19.9% 19.3% 18.6%
RA D IO 43.3 45.7 48.5 49.8 49.8 49.8 49.8 45.8 48.1 49.5 51.0 51.0 51.0
Growth 4.2% 5.6% 6.0% 2.6% 0.0% 0.0% 0.0% -8.0% 5.0% 3.0% 3.0% 0.0% 0.0%
Share 1.9% 1.9% 1.9% 1.9% 2.0% 2.1% 1.9% 1.9% 1.9% 1.9% 1.8% 1.7% 1.6%
N EWS PAP E RS 539.7 580.2 596.4 597.2 535.9 450.4 414.4 352.2 334.6 341.3 348.2 355.1 362.2
Growth 7.3% 7.5% 2.8% 0.1% -10.3% -16.0% -8.0% -15.0% -5.0% 2.0% 2.0% 2.0% 2.0%
Share 24.0% 23.5% 22.9% 22.8% 21.9% 18.7% 16.1% 14.8% 13.5% 12.9% 12.3% 11.8% 11.3%
MA GA ZINES 330.7 333.1 286.5 216.9 121.2 76.6 62.3 49.8 44.8 43.9 43.1 42.2 41.4
Growth 7.6% 0.7% -14.0% -24.3% -44.1% -36.8% -18.7% -20.0% -10.0% -2.0% -2.0% -2.0% -2.0%
Share 14.7% 13.5% 11.0% 8.3% 4.9% 3.2% 2.4% 2.1% 1.8% 1.7% 1.5% 1.4% 1.3%
O U TD OOR + CINEMA 381.9 435.3 461.3 464.7 419.8 387.9 407.1 374.6 397.6 417.3 442.1 464.1 491.7
Growth 16.3% 14.0% 6.0% 0.7% -9.7% -7.6% 4.9% -8.0% 6.1% 5.0% 5.9% 5.0% 6.0%
Share 17.0% 17.6% 17.7% 17.7% 17.1% 16.1% 15.8% 15.8% 16.0% 15.8% 15.6% 15.5% 15.3%
IN TER N ET 269.8 366.0 472.2 613.5 749.0 907.9 1,085.0 1,048.5 1,139.5 1,256.1 1,379.4 1,508.6 1,662.6
Growth 34.8% 35.7% 29.0% 29.9% 22.1% 21.2% 19.5% -3.4% 8.7% 10.2% 9.8% 9.4% 10.2%
Share 12.0% 14.8% 18.2% 23.4% 30.6% 37.7% 42.2% 44.1% 45.8% 47.5% 48.8% 50.3% 51.8%
TO TA L $2,251.1 $2,467.2 $2,601.5 $2,618.4 $2,450.0 $2,406.6 $2,568.5 $2,377.0 $2,485.9 $2,645.1 $2,827.5 $3,001.6 $3,206.9
Growth 12.9% 9.6% 5.4% 0.6% -6.4% -1.8% 6.7% -7.5% 4.6% 6.4% 6.9% 6.2% 6.8%

28 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

H U N GARY ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $165.8 $155.3 $170.3 $175.7 $190.8 $205.1 $206.8 $211.8 $219.6 $224.0 $230.7 $235.4 $244.8
Growth -11.3% -6.4% 9.6% 3.2% 8.6% 7.5% 0.8% 2.4% 3.7% 2.0% 3.0% 2.0% 4.0%
Share 34.0% 31.3% 31.4% 31.3% 30.6% 29.5% 27.5% 27.6% 27.9% 27.9% 27.9% 27.9% 27.9%
RA D IO 23.2 30.1 31.8 30.8 32.6 34.0 37.2 38.5 39.2 39.9 41.1 42.0 43.6
Growth -8.0% 29.5% 5.9% -3.1% 5.6% 4.2% 9.5% 3.4% 1.8% 2.0% 3.0% 2.0% 4.0%
Share 4.8% 6.1% 5.9% 5.5% 5.2% 4.9% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%
N EWS PAP ERS 62.3 61.0 57.8 51.6 50.7 56.1 58.1 55.1 51.8 52.8 54.4 55.5 57.7
Growth -10.4% -2.1% -5.2% -10.7% -1.8% 10.8% 3.5% -5.1% -6.1% 2.0% 3.0% 2.0% 4.0%
Share 12.8% 12.3% 10.7% 9.2% 8.1% 8.1% 7.7% 7.2% 6.6% 6.6% 6.6% 6.6% 6.6%
MA GA ZINE S 64.8 61.0 60.2 58.2 59.5 74.4 77.0 79.4 81.0 82.6 85.1 86.8 90.3
Growth -10.4% -5.9% -1.3% -3.3% 2.3% 25.1% 3.5% 3.1% 2.1% 2.0% 3.0% 2.0% 4.0%
Share 13.3% 12.3% 11.1% 10.4% 9.5% 10.7% 10.3% 10.3% 10.3% 10.3% 10.3% 10.3% 10.3%
O U TD OOR + CINEMA 57.1 57.4 61.5 60.7 65.1 63.5 73.8 75.6 71.5 72.9 75.1 76.6 79.7
Growth -6.7% 0.5% 7.2% -1.3% 7.3% -2.5% 16.3% 2.4% -5.4% 2.0% 3.0% 2.0% 4.0%
Share 11.7% 11.6% 11.3% 10.8% 10.4% 9.1% 9.8% 9.9% 9.1% 9.1% 9.1% 9.1% 9.1%
IN TER N ET 114.5 131.7 161.0 184.2 224.6 261.4 297.9 306.5 323.5 330.0 339.9 346.6 360.5
Growth 18.0% 15.0% 22.3% 14.4% 21.9% 16.4% 14.0% 2.9% 5.6% 2.0% 3.0% 2.0% 4.0%
Share 23.5% 26.5% 29.7% 32.8% 36.0% 37.6% 39.7% 40.0% 41.1% 41.1% 41.1% 41.1% 41.1%
TO TA L $487.7 $496.3 $542.6 $561.2 $623.2 $694.4 $750.8 $766.8 $786.6 $802.3 $826.4 $842.9 $876.6
Growth -4.8% 1.8% 9.3% 3.4% 11.0% 11.4% 8.1% 2.1% 2.6% 2.0% 3.0% 2.0% 4.0%

IN D IA ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $2,091.5 $2,380.8 $2,741.0 $3,250.8 $3,579.5 $3,948.2 $4,741.3 $5,191.7 $5,768.0 $6,425.5 $7,132.3 $8,045.3 $8,970.5
Growth 5.6% 13.8% 15.1% 18.6% 10.1% 10.3% 20.1% 9.5% 11.1% 11.4% 11.0% 12.8% 11.5%
Share 41.1% 42.0% 42.5% 44.0% 43.3% 42.8% 44.2% 43.1% 42.5% 42.0% 41.3% 41.2% 40.8%
RA D IO 216.1 246.9 274.5 303.1 336.5 363.4 382.6 413.2 446.2 490.9 530.1 577.8 618.3
Growth 5.0% 14.2% 11.2% 10.4% 11.0% 8.0% 5.3% 8.0% 8.0% 10.0% 8.0% 9.0% 7.0%
Share 4.2% 4.4% 4.3% 4.1% 4.1% 3.9% 3.6% 3.4% 3.3% 3.2% 3.1% 3.0% 2.8%
N EWS PAP ERS 1,996.9 2,084.3 2,237.3 2,350.4 2,455.0 2,508.3 2,540.6 2,598.5 2,624.7 2,639.5 2,629.9 2,574.7 2,494.9
Growth 2.2% 4.4% 7.3% 5.1% 4.4% 2.2% 1.3% 2.3% 1.0% 0.6% -0.4% -2.1% -3.1%
Share 39.3% 36.7% 34.7% 31.8% 29.7% 27.2% 23.7% 21.5% 19.3% 17.3% 15.2% 13.2% 11.3%
MA GA ZINE S 115.8 115.8 110.0 95.3 81.2 65.0 55.2 49.7 44.7 38.0 34.2 31.6 29.3
Growth 0.0% 0.0% -5.0% -13.4% -14.8% -20.0% -15.0% -10.0% -10.0% -15.0% -10.0% -7.5% -7.5%
Share 2.3% 2.0% 1.7% 1.3% 1.0% 0.7% 0.5% 0.4% 0.3% 0.2% 0.2% 0.2% 0.1%
O U TD OOR + CINE MA 338.1 360.6 398.7 422.2 467.4 510.4 566.0 621.6 671.7 732.0 807.0 887.7 989.8
Growth 3.9% 6.7% 10.6% 5.9% 10.7% 9.2% 10.9% 9.8% 8.1% 9.0% 10.3% 10.0% 11.5%
Share 6.6% 6.4% 6.2% 5.7% 5.7% 5.5% 5.3% 5.2% 4.9% 4.8% 4.7% 4.5% 4.5%
IN TER N ET 327.3 485.7 692.9 971.0 1,340.0 1,820.2 2,439.7 3,183.3 4,020.1 4,964.4 6,129.9 7,398.3 8,890.3
Growth 46.3% 48.4% 42.7% 40.1% 38.0% 35.8% 34.0% 30.5% 26.3% 23.5% 23.5% 20.7% 20.2%
Share 6.4% 8.6% 10.7% 13.1% 16.2% 19.8% 22.7% 26.4% 29.6% 32.5% 35.5% 37.9% 40.4%
TO TA L $5,085.7 $5,673.9 $6,454.4 $7,392.9 $8,259.5 $9,215.4 $10,725.4 $12,057.9 $13,575.4 $15,290.3 $17,263.5 $19,515.5 $21,993.1
Growth 5.8% 11.6% 13.8% 14.5% 11.7% 11.6% 16.4% 12.4% 12.6% 12.6% 12.9% 13.0% 12.7%

IN D ONES IA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $966.2 $1,138.9 $1,261.8 $1,338.8 $1,432.5 $1,561.4 $1,717.6 $1,889.3 $2,212.5 $2,514.9 $2,796.2 $3,197.2 $3,692.5
Growth 20.1% 17.9% 10.8% 6.1% 7.0% 9.0% 10.0% 10.0% 17.1% 13.7% 11.2% 14.3% 15.5%
Share 64.8% 65.6% 65.5% 65.4% 65.2% 65.8% 66.8% 66.2% 68.0% 69.4% 69.4% 69.3% 69.5%
RA D IO 40.6 45.2 48.5 49.2 50.6 49.6 49.8 50.1 53.9 62.4 69.3 77.2 88.4
Growth 9.2% 11.4% 7.1% 1.5% 2.9% -2.0% 0.5% 0.5% 7.6% 15.7% 11.2% 11.3% 14.5%
Share 2.7% 2.6% 2.5% 2.4% 2.3% 2.1% 1.9% 1.8% 1.7% 1.7% 1.7% 1.7% 1.7%
N EWS PAP ERS 311.9 338.8 358.0 347.3 345.6 338.7 304.8 310.9 141.1 163.3 183.4 206.1 236.0
Growth 10.6% 8.6% 5.7% -3.0% -0.5% -2.0% -10.0% 2.0% -54.6% 15.7% 12.3% 12.4% 14.5%
Share 20.9% 19.5% 18.6% 17.0% 15.7% 14.3% 11.9% 10.9% 4.3% 4.5% 4.5% 4.5% 4.4%
MA GA ZINE S 56.4 58.1 58.8 51.3 48.8 47.8 43.0 34.4 25.4 29.4 32.7 36.4 41.6
Growth 6.7% 2.9% 1.2% -12.7% -4.9% -2.0% -10.0% -20.0% -26.2% 15.7% 11.2% 11.3% 14.5%
Share 3.8% 3.3% 3.0% 2.5% 2.2% 2.0% 1.7% 1.2% 0.8% 0.8% 0.8% 0.8% 0.8%
O U TD OOR + CINE MA 53.3 61.9 67.2 70.1 74.0 77.2 84.1 88.3 80.0 92.6 103.9 115.7 134.9
Growth 11.2% 16.3% 8.5% 4.3% 5.5% 4.4% 8.9% 5.0% -9.3% 15.7% 12.2% 11.3% 16.6%
Share 3.6% 3.6% 3.5% 3.4% 3.4% 3.3% 3.3% 3.1% 2.5% 2.6% 2.6% 2.5% 2.5%
IN TER N ET 62.6 93.0 133.6 188.8 247.3 296.8 371.0 482.3 739.1 760.3 845.4 980.2 1,122.1
Growth 92.8% 48.6% 43.7% 41.3% 31.0% 20.0% 25.0% 30.0% 53.2% 2.9% 11.2% 15.9% 14.5%
Share 4.2% 5.4% 6.9% 9.2% 11.2% 12.5% 14.4% 16.9% 22.7% 21.0% 21.0% 21.2% 21.1%
TO TA L $1,491.0 $1,735.9 $1,927.9 $2,045.5 $2,198.8 $2,371.5 $2,570.3 $2,855.3 $3,252.0 $3,622.8 $4,031.0 $4,612.8 $5,315.6
Growth 18.6% 16.4% 11.1% 6.1% 7.5% 7.9% 8.4% 11.1% 13.9% 11.4% 11.3% 14.4% 15.2%

IR E LAND ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $207.4 $202.9 $213.1 $219.3 $223.0 $209.2 $213.2 $203.0 $200.3 $199.8 $200.3 $199.6 $198.8
Growth -7.8% -2.2% 5.0% 2.9% 1.7% -6.2% 1.9% -4.8% -1.4% -0.2% 0.2% -0.3% -0.4%
Share 23.7% 24.4% 25.0% 25.6% 25.7% 24.1% 24.2% 23.4% 22.9% 22.4% 21.9% 21.4% 20.9%
RA D IO 147.9 145.9 143.9 147.1 147.9 141.9 128.6 121.5 115.5 110.6 106.1 100.7 95.1
Growth -3.9% -1.4% -1.4% 2.3% 0.6% -4.1% -9.4% -5.5% -5.0% -4.2% -4.1% -5.0% -5.6%
Share 16.9% 17.5% 16.9% 17.2% 17.0% 16.3% 14.6% 14.0% 13.2% 12.4% 11.6% 10.8% 10.0%
N EWS PAP ERS 268.6 223.5 210.2 181.4 157.6 139.7 127.7 109.3 101.5 94.6 87.8 80.2 72.3
Growth -12.8% -16.8% -5.9% -13.7% -13.1% -11.4% -8.6% -14.4% -7.2% -6.8% -7.2% -8.6% -9.9%
Share 30.6% 26.8% 24.6% 21.2% 18.1% 16.1% 14.5% 12.6% 11.6% 10.6% 9.6% 8.6% 7.6%
MA GA ZINE S 20.3 18.9 18.5 18.5 18.0 17.4 15.6 13.9 13.1 12.5 11.9 11.2 10.5
Growth -7.6% -7.1% -1.8% 0.0% -3.1% -3.0% -10.3% -11.2% -5.5% -4.8% -4.8% -5.8% -6.5%
Share 2.3% 2.3% 2.2% 2.2% 2.1% 2.0% 1.8% 1.6% 1.5% 1.4% 1.3% 1.2% 1.1%
O U TD OOR + CINEMA 75.1 69.8 75.6 79.9 82.6 85.7 85.2 85.9 85.7 86.5 87.8 88.6 89.4
Growth -12.0% -7.1% 8.3% 5.8% 3.4% 3.7% -0.5% 0.8% -0.2% 1.0% 1.4% 0.9% 0.9%
Share 8.6% 8.4% 8.9% 9.3% 9.5% 9.9% 9.7% 9.9% 9.8% 9.7% 9.6% 9.5% 9.4%
IN TER N ET 157.0 172.0 192.1 208.9 239.7 275.3 308.8 334.1 358.6 388.1 420.6 452.4 485.2
Growth 17.3% 9.5% 11.7% 8.7% 14.8% 14.9% 12.2% 8.2% 7.3% 8.2% 8.4% 7.5% 7.3%
Share 17.9% 20.7% 22.5% 24.4% 27.6% 31.7% 35.1% 38.5% 41.0% 43.5% 46.0% 48.5% 51.0%
TO TA L $876.5 $833.0 $853.4 $855.2 $868.9 $869.2 $879.1 $867.7 $874.6 $892.1 $914.4 $932.7 $951.4
Growth -5.6% -5.0% 2.5% 0.2% 1.6% 0.0% 1.1% -1.3% 0.8% 2.0% 2.5% 2.0% 2.0%

29 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

I SRAE L ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $412.9 $445.8 $419.1 $410.6 $402.4 $418.6 $422.8 $438.4 $442.8 $449.5 $459.3 $468.1 $477.9
Growth -7.0% 8.0% -6.0% -2.0% -2.0% 4.0% 1.0% 3.7% 1.0% 1.5% 2.2% 1.9% 2.1%
Share 41.7% 43.1% 40.6% 37.4% 36.6% 36.7% 35.5% 36.6% 35.2% 34.2% 33.3% 32.3% 31.4%
RA D IO 64.4 69.5 71.5 74.3 77.1 73.7 92.9 97.6 104.4 112.2 121.4 134.4 144.8
Growth -3.0% 7.9% 2.9% 4.0% 3.8% -4.4% 26.0% 5.0% 7.0% 7.5% 8.2% 10.7% 7.7%
Share 6.5% 6.7% 6.9% 6.8% 7.0% 6.5% 7.8% 8.1% 8.3% 8.5% 8.8% 9.3% 9.5%
N EWS PAP E RS 260.8 239.9 218.2 205.2 180.7 159.0 139.8 129.3 116.4 103.6 92.7 83.3 75.2
Growth -12.0% -8.0% -9.0% -6.0% -11.9% -12.0% -12.1% -7.5% -10.0% -11.0% -10.5% -10.1% -9.8%
Share 26.3% 23.2% 21.1% 18.7% 16.4% 14.0% 11.7% 10.8% 9.3% 7.9% 6.7% 5.8% 4.9%
MA GA ZINE S 29.0 26.7 24.2 22.8 20.1 17.7 15.6 14.5 13.0 11.6 10.4 9.3 8.4
Growth -12.0% -8.0% -9.0% -6.0% -11.9% -12.0% -11.7% -7.3% -10.0% -11.0% -10.4% -10.0% -9.7%
Share 2.9% 2.6% 2.3% 2.1% 1.8% 1.6% 1.3% 1.2% 1.0% 0.9% 0.8% 0.6% 0.6%
O U TD OOR + CINEMA 60.7 64.9 68.1 94.4 86.5 93.3 97.5 82.8 87.4 86.5 86.1 85.0 83.0
Growth -6.1% 7.0% 4.8% 38.8% -8.4% 7.9% 4.5% -15.0% 5.5% -1.0% -0.4% -1.3% -2.4%
Share 6.1% 6.3% 6.6% 8.6% 7.9% 8.2% 8.2% 6.9% 6.9% 6.6% 6.3% 5.9% 5.4%
IN TER N ET 162.5 187.2 232.0 290.1 333.5 376.9 422.0 434.5 493.5 549.3 607.5 668.9 733.8
Growth 0.0% 15.2% 23.9% 25.1% 15.0% 13.0% 12.0% 3.0% 13.6% 11.3% 10.6% 10.1% 9.7%
Share 16.4% 18.1% 22.5% 26.4% 30.3% 33.1% 35.4% 36.3% 39.2% 41.8% 44.1% 46.2% 48.2%
TO TA L $990.3 $1,034.0 $1,033.1 $1,097.5 $1,100.3 $1,139.2 $1,190.6 $1,197.0 $1,257.5 $1,312.6 $1,377.5 $1,449.1 $1,523.0
Growth -7.2% 4.4% -0.1% 6.2% 0.3% 3.5% 4.5% 0.5% 5.1% 4.4% 4.9% 5.2% 5.1%

ITA LY ( TOTAL – USDM M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $3,851.9 $3,496.8 $3,503.2 $3,512.3 $3,714.5 $3,652.3 $3,685.4 $3,504.8 $3,522.4 $3,481.6 $3,543.3 $3,491.1 $3,552.8
Growth -15.9% -9.2% 0.2% 0.3% 5.8% -1.7% 0.9% -4.9% 0.5% -1.2% 1.8% -1.5% 1.8%
Share 45.9% 45.4% 45.3% 44.3% 44.8% 43.5% 42.5% 40.6% 39.9% 38.7% 38.1% 36.8% 36.3%
RA D IO 492.4 426.8 416.0 451.8 462.0 486.7 513.8 527.1 534.5 539.8 529.0 537.0 537.0
Growth -6.7% -13.3% -2.5% 8.6% 2.3% 5.3% 5.5% 2.6% 1.4% 1.0% -2.0% 1.5% 0.0%
Share 5.9% 5.5% 5.4% 5.7% 5.6% 5.8% 5.9% 6.1% 6.0% 6.0% 5.7% 5.7% 5.5%
N EWS PAP ERS 1,149.4 929.0 837.6 768.7 715.4 661.4 619.8 558.3 505.8 473.2 442.8 420.4 399.3
Growth -18.0% -19.2% -9.8% -8.2% -6.9% -7.5% -6.3% -9.9% -9.4% -6.4% -6.4% -5.0% -5.0%
Share 13.7% 12.0% 10.8% 9.7% 8.6% 7.9% 7.1% 6.5% 5.7% 5.3% 4.8% 4.4% 4.1%
MA GA ZINE S 660.1 502.1 470.1 451.4 433.4 406.5 373.3 322.2 286.8 264.2 243.4 228.3 214.1
Growth -18.5% -23.9% -6.4% -4.0% -4.0% -6.2% -8.2% -13.7% -11.0% -7.9% -7.9% -6.2% -6.2%
Share 7.9% 6.5% 6.1% 5.7% 5.2% 4.8% 4.3% 3.7% 3.2% 2.9% 2.6% 2.4% 2.2%
O U TD OOR + CINE MA 476.5 414.2 377.6 402.2 392.0 369.0 366.8 341.1 341.8 348.2 353.0 354.7 359.6
Growth -16.1% -13.1% -8.8% 6.5% -2.5% -5.9% -0.6% -7.0% 0.2% 1.9% 1.4% 0.5% 1.4%
Share 5.7% 5.4% 4.9% 5.1% 4.7% 4.4% 4.2% 4.0% 3.9% 3.9% 3.8% 3.7% 3.7%
IN TER N ET 1,753.6 1,941.3 2,135.1 2,337.4 2,566.1 2,821.7 3,110.8 3,379.6 3,646.5 3,898.1 4,190.1 4,462.7 4,730.5
Growth 25.6% 10.7% 10.0% 9.5% 9.8% 10.0% 10.2% 8.6% 7.9% 6.9% 7.5% 6.5% 6.0%
Share 20.9% 25.2% 27.6% 29.5% 31.0% 33.6% 35.9% 39.1% 41.3% 43.3% 45.0% 47.0% 48.3%
TO TA L $8,383.9 $7,710.0 $7,739.6 $7,923.8 $8,283.5 $8,397.7 $8,669.8 $8,633.1 $8,837.8 $9,005.1 $9,301.7 $9,494.2 $9,793.3
Growth -9.7% -8.0% 0.4% 2.4% 4.5% 1.4% 3.2% -0.4% 2.4% 1.9% 3.3% 2.1% 3.2%

JA PAN ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $14,405.1 $14,599.3 $15,014.4 $14,829.5 $15,085.8 $14,948.4 $14,676.0 $14,440.5 $14,469.4 $14,435.7 $14,410.8 $14,383.9 $14,355.1
Growth 3.5% 1.3% 2.8% -1.2% 1.7% -0.9% -1.8% -1.6% 0.2% -0.2% -0.2% -0.2% -0.2%
Share 42.8% 42.4% 41.9% 40.9% 40.3% 38.7% 36.6% 35.5% 34.9% 34.5% 34.1% 33.7% 33.3%
RA D IO 921.7 919.5 940.9 927.6 950.5 954.2 945.4 936.9 912.7 900.9 888.8 854.9 820.3
Growth -0.1% -0.2% 2.3% -1.4% 2.5% 0.4% -0.9% -0.9% -2.6% -1.3% -1.3% -3.8% -4.1%
Share 2.7% 2.7% 2.6% 2.6% 2.5% 2.5% 2.4% 2.3% 2.2% 2.2% 2.1% 2.0% 1.9%
N EWS PAP ERS 4,905.9 4,849.3 4,760.5 4,463.4 4,268.5 4,045.3 3,760.0 3,421.7 3,132.4 2,891.3 2,708.6 2,693.0 2,711.3
Growth 4.2% -1.2% -1.8% -6.2% -4.4% -5.2% -7.1% -9.0% -8.5% -7.7% -6.3% -0.6% 0.7%
Share 14.6% 14.1% 13.3% 12.3% 11.4% 10.5% 9.4% 8.4% 7.6% 6.9% 6.4% 6.3% 6.3%
MA GA ZINE S 1,887.0 1,848.5 1,849.3 1,807.1 1,644.4 1,496.4 1,361.8 1,222.0 1,099.4 984.7 931.1 919.0 923.9
Growth 0.4% -2.0% 0.0% -2.3% -9.0% -9.0% -9.0% -10.3% -10.0% -10.4% -5.4% -1.3% 0.5%
Share 5.6% 5.4% 5.2% 5.0% 4.4% 3.9% 3.4% 3.0% 2.7% 2.4% 2.2% 2.2% 2.1%
O U TD OOR + CINE MA 4,135.9 4,225.8 4,348.1 4,354.0 4,324.8 4,335.6 4,347.3 4,338.3 4,377.0 4,349.6 4,316.9 4,308.8 4,252.6
Growth 3.9% 2.2% 2.9% 0.1% -0.7% 0.3% 0.3% -0.2% 0.9% -0.6% -0.8% -0.2% -1.3%
Share 12.3% 12.3% 12.1% 12.0% 11.6% 11.2% 10.9% 10.7% 10.6% 10.4% 10.2% 10.1% 9.9%
IN TER N ET 7,383.8 7,980.1 8,948.2 9,862.7 11,143.8 12,840.0 14,962.4 16,375.5 17,497.6 18,341.1 19,066.3 19,586.1 20,110.1
Growth 7.7% 8.1% 12.1% 10.2% 13.0% 15.2% 16.5% 9.4% 6.9% 4.8% 4.0% 2.7% 2.7%
Share 21.9% 23.2% 25.0% 27.2% 29.8% 33.2% 37.4% 40.2% 42.2% 43.8% 45.1% 45.8% 46.6%
TO TA L $33,639.4 $34,422.5 $35,861.4 $36,244.2 $37,417.8 $38,620.0 $40,052.9 $40,735.0 $41,488.6 $41,903.4 $42,322.5 $42,745.7 $43,173.2
Growth 4.3% 2.3% 4.2% 1.1% 3.2% 3.2% 3.7% 1.7% 1.8% 1.0% 1.0% 1.0% 1.0%

K E N YA ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $93.3 $101.4 $135.6 $156.5 $162.7 $217.4 $227.6 $316.1 $330.5 $363.9 $409.6 $431.5 $449.9
Growth 46.2% 8.8% 33.7% 15.4% 4.0% 33.6% 4.7% 38.9% 4.6% 10.1% 12.6% 5.3% 4.3%
Share 23.0% 23.7% 29.0% 32.5% 30.7% 35.7% 35.5% 40.0% 41.0% 43.0% 44.0% 45.0% 46.0%
RA D IO 186.4 187.7 156.5 177.9 179.1 175.1 175.8 207.1 233.8 220.1 232.8 239.7 237.2
Growth 39.7% 0.7% -16.6% 13.7% 0.7% -2.2% 0.4% 17.9% 12.9% -5.9% 5.8% 3.0% -1.1%
Share 46.1% 43.8% 33.5% 36.9% 33.8% 28.8% 27.4% 26.2% 29.0% 26.0% 25.0% 25.0% 24.3%
N EWS PAP ERS 66.8 67.5 85.1 48.7 66.1 77.1 85.1 84.2 52.2 60.1 68.0 45.2 45.9
Growth 13.0% 1.2% 26.0% -42.8% 35.9% 16.7% 10.4% -1.2% -37.9% 15.0% 13.1% -33.5% 1.6%
Share 16.5% 15.8% 18.2% 10.1% 12.5% 12.7% 13.3% 10.7% 6.5% 7.1% 7.3% 4.7% 4.7%
MA GA ZINE S 16.1 17.4 21.3 20.9 28.3 13.6 8.4 13.0 9.8 10.0 18.2 18.8 11.4
Growth 9.3% 8.1% 22.0% -2.0% 35.9% -52.0% -38.1% 53.9% -24.1% 1.6% 82.7% 3.0% -39.1%
Share 4.0% 4.1% 4.6% 4.3% 5.3% 2.2% 1.3% 1.6% 1.2% 1.2% 2.0% 2.0% 1.2%
O U TD OOR + CINEMA 32.9 44.3 55.2 62.6 77.8 103.8 108.7 110.9 115.1 117.9 121.0 142.3 149.7
Growth 45.6% 34.7% 24.6% 13.4% 24.3% 33.5% 4.7% 2.0% 3.8% 2.4% 2.7% 17.6% 5.2%
Share 8.1% 10.3% 11.8% 13.0% 14.7% 17.1% 17.0% 14.0% 14.3% 13.9% 13.0% 14.8% 15.3%
IN TER N ET 9.3 10.1 13.6 15.6 16.3 21.7 35.2 59.3 64.5 74.5 81.0 81.5 84.1
Growth 46.2% 8.8% 33.7% 15.4% 4.0% 33.6% 61.7% 68.6% 8.8% 15.5% 8.7% 0.6% 3.2%
Share 2.3% 2.4% 2.9% 3.2% 3.1% 3.6% 5.5% 7.5% 8.0% 8.8% 8.7% 8.5% 8.6%
TO TA L $404.8 $428.6 $467.3 $482.2 $530.3 $608.9 $640.8 $790.3 $806.1 $846.4 $931.0 $958.9 $978.1
Growth 34.9% 5.9% 9.0% 3.2% 10.0% 14.8% 5.3% 23.3% 2.0% 5.0% 10.0% 3.0% 2.0%

30 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

LAT VIA ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $35.6 $36.7 $37.1 $37.6 $37.1 $38.3 $39.3 $39.3 $39.8 $41.4 $42.8 $44.1 $45.3
Growth 2.7% 3.0% 1.3% 1.2% -1.2% 3.1% 2.7% -0.1% 1.4% 3.9% 3.5% 3.0% 2.8%
Share 44.5% 44.1% 43.5% 42.9% 41.8% 41.2% 39.6% 37.9% 36.7% 36.7% 36.7% 36.7% 36.7%
RA D IO 8.3 9.0 11.3 11.3 11.4 11.5 12.7 12.5 12.5 13.0 13.5 13.9 14.2
Growth 2.4% 7.8% 25.4% 0.0% 1.3% 0.7% 10.1% -1.4% 0.2% 3.9% 3.5% 3.0% 2.8%
Share 10.4% 10.8% 13.2% 12.9% 12.9% 12.4% 12.8% 12.0% 11.5% 11.5% 11.5% 11.5% 11.5%
N EWS PAP ERS 7.9 7.0 6.5 6.2 4.6 4.0 4.0 3.3 2.8 2.9 3.0 3.1 3.2
Growth -2.9% -11.6% -7.7% -4.0% -26.4% -13.2% 1.9% -18.5% -14.0% 3.9% 3.5% 3.0% 2.8%
Share 9.9% 8.4% 7.6% 7.1% 5.1% 4.3% 4.1% 3.2% 2.6% 2.6% 2.6% 2.6% 2.6%
MA GA ZINE S 7.7 8.3 8.6 9.2 6.6 5.9 6.0 4.7 4.0 4.1 4.3 4.4 4.5
Growth 4.1% 7.7% 3.7% 6.0% -28.3% -10.6% 1.4% -21.3% -15.0% 3.9% 3.5% 3.0% 2.8%
Share 9.7% 10.0% 10.1% 10.4% 7.4% 6.3% 6.0% 4.5% 3.7% 3.7% 3.7% 3.7% 3.7%
O U TD OOR + CINE MA 7.9 8.9 9.1 9.1 9.4 9.9 11.2 11.7 12.9 13.4 13.9 14.3 14.7
Growth 5.1% 12.5% 1.7% 0.2% 3.4% 5.8% 12.2% 4.6% 10.8% 3.9% 3.5% 3.0% 2.8%
Share 9.9% 10.7% 10.6% 10.4% 10.6% 10.7% 11.2% 11.3% 11.9% 11.9% 11.9% 11.9% 11.9%
IN TER N ET 12.4 13.2 12.7 14.4 19.6 23.3 26.2 32.3 36.4 37.8 39.1 40.3 41.4
Growth 13.4% 6.1% -3.4% 13.1% 36.4% 18.7% 12.4% 23.1% 12.7% 3.9% 3.5% 3.0% 2.8%
Share 15.5% 15.9% 14.9% 16.4% 22.1% 25.1% 26.4% 31.1% 33.5% 33.5% 33.5% 33.5% 33.5%
TO TA L $79.9 $83.1 $85.3 $87.7 $88.7 $92.9 $99.3 $103.7 $108.4 $112.7 $116.6 $120.1 $123.5
Growth 4.0% 3.9% 2.7% 2.8% 1.2% 4.7% 7.0% 4.3% 4.6% 3.9% 3.5% 3.0% 2.8%

LIT H U ANIA ( TOTAL – U SD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $53.1 $52.4 $51.1 $51.5 $54.4 $55.8 $57.6 $60.1 $61.4 $64.8 $67.0 $68.1 $69.3
Growth 1.2% -1.2% -2.5% 0.7% 5.6% 2.7% 3.2% 4.3% 2.2% 5.5% 3.4% 1.7% 1.6%
Share 47.8% 47.5% 46.2% 45.6% 45.5% 45.0% 44.5% 44.7% 44.4% 45.2% 45.9% 46.2% 46.6%
RA D IO 8.7 8.7 9.4 9.5 9.9 10.9 11.7 12.5 13.4 14.5 15.4 16.2 16.8
Growth 0.0% 0.0% 7.4% 1.2% 4.7% 10.1% 7.1% 6.7% 7.1% 8.3% 6.2% 5.1% 3.4%
Share 7.9% 7.9% 8.5% 8.4% 8.3% 8.8% 9.1% 9.3% 9.7% 10.1% 10.6% 11.0% 11.3%
N EWS PAP ERS 18.1 16.2 13.3 11.3 10.2 9.5 9.6 9.2 8.9 8.0 6.7 5.6 4.5
Growth -6.7% -10.7% -18.0% -14.9% -9.9% -6.6% 1.2% -4.7% -2.4% -10.0% -16.7% -16.7% -20.0%
Share 16.3% 14.7% 12.0% 10.0% 8.5% 7.6% 7.4% 6.8% 6.5% 5.6% 4.6% 3.8% 3.0%
MA GA ZINE S 11.3 11.6 12.0 12.2 12.4 10.7 9.4 8.9 8.7 8.0 6.8 5.7 4.7
Growth 0.0% 2.9% 2.8% 1.7% 1.8% -13.5% -12.5% -4.8% -2.5% -7.7% -15.3% -16.4% -17.6%
Share 10.2% 10.6% 10.8% 10.8% 10.4% 8.6% 7.2% 6.6% 6.3% 5.6% 4.7% 3.9% 3.2%
O U TD OOR + CINEMA 8.8 8.8 10.1 11.4 12.6 14.6 17.8 19.2 20.3 21.2 22.0 22.7 23.4
Growth -5.6% 0.4% 14.7% 12.9% 10.8% 15.9% 21.4% 8.2% 5.8% 4.1% 4.0% 3.2% 3.1%
Share 7.9% 8.0% 9.1% 10.1% 10.6% 11.8% 13.7% 14.3% 14.7% 14.8% 15.1% 15.4% 15.7%
IN TER N ET 11.0 12.6 14.9 17.1 20.1 22.6 23.5 24.6 25.7 26.8 27.9 29.0 30.2
Growth 21.4% 14.7% 17.9% 14.8% 17.6% 12.2% 4.0% 4.8% 4.5% 4.3% 4.2% 4.0% 3.8%
Share 9.9% 11.4% 13.4% 15.1% 16.8% 18.2% 18.1% 18.3% 18.5% 18.7% 19.1% 19.7% 20.3%
TO TA L $111.0 $110.4 $110.7 $112.9 $119.6 $124.2 $129.6 $134.5 $138.5 $143.4 $145.9 $147.4 $148.7
Growth 0.7% -0.6% 0.3% 2.0% 5.9% 3.8% 4.3% 3.8% 3.0% 3.5% 1.8% 1.0% 0.9%

MALAYS IA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $276.5 $289.2 $267.4 $256.6 $243.1 $223.3 $205.1 $211.2 $217.6 $219.7 $221.9 $228.6 $239.5
Growth 5.9% 4.6% -7.5% -4.0% -5.3% -8.1% -8.1% 3.0% 3.0% 1.0% 1.0% 3.0% 4.8%
Share 26.8% 26.5% 25.5% 24.9% 24.3% 23.8% 22.5% 23.2% 23.2% 23.0% 22.6% 22.2% 22.2%
RA D IO 83.4 92.4 94.5 94.8 104.5 100.2 87.5 78.8 77.2 74.1 70.4 70.5 72.3
Growth 5.9% 10.9% 2.3% 0.3% 10.3% -4.2% -12.6% -10.0% -2.0% -4.0% -5.0% 0.1% 2.6%
Share 8.1% 8.5% 9.0% 9.2% 10.4% 10.7% 9.6% 8.6% 8.2% 7.8% 7.2% 6.8% 6.7%
N EWS PAP ERS 475.7 501.5 444.1 397.6 343.8 267.7 229.0 180.2 153.2 133.3 122.6 126.3 118.7
Growth -2.8% 5.4% -11.4% -10.5% -13.5% -22.1% -14.5% -21.3% -15.0% -13.0% -8.0% 3.0% -6.0%
Share 46.1% 46.0% 42.4% 38.6% 34.3% 28.6% 25.1% 19.8% 16.3% 13.9% 12.5% 12.3% 11.0%
MA GA ZINE S 46.2 40.8 39.0 40.9 32.3 23.7 17.8 15.0 12.2 10.4 9.3 8.4 8.1
Growth -1.2% -11.5% -4.4% 4.9% -21.2% -26.7% -25.0% -15.8% -18.3% -15.0% -10.0% -10.0% -3.8%
Share 4.5% 3.7% 3.7% 4.0% 3.2% 2.5% 1.9% 1.6% 1.3% 1.1% 1.0% 0.8% 0.8%
O U TD OOR + CINE MA 92.7 86.4 90.8 100.5 102.8 108.8 120.0 129.6 134.7 141.5 144.3 148.6 151.1
Growth 16.5% -6.8% 5.0% 10.7% 2.3% 5.8% 10.3% 8.0% 4.0% 5.0% 2.0% 3.0% 1.6%
Share 9.0% 7.9% 8.7% 9.8% 10.3% 11.6% 13.2% 14.2% 14.4% 14.8% 14.7% 14.4% 14.0%
IN TER N ET 57.1 80.0 112.2 140.2 175.3 213.9 252.2 297.7 342.4 376.6 414.3 447.4 488.8
Growth 55.6% 40.0% 40.2% 25.0% 25.0% 22.0% 17.9% 18.0% 15.0% 10.0% 10.0% 8.0% 9.2%
Share 5.5% 7.3% 10.7% 13.6% 17.5% 22.8% 27.7% 32.6% 36.5% 39.4% 42.2% 43.4% 45.3%
TO TA L $1,031.6 $1,090.3 $1,048.0 $1,030.7 $1,001.7 $937.5 $911.5 $912.5 $937.3 $955.6 $982.9 $1,029.8 $1,079.0
Growth 4.0% 5.7% -3.9% -1.6% -2.8% -6.4% -2.8% 0.1% 2.7% 2.0% 2.9% 4.8% 4.8%

ME N A ( TOTAL – USDM M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $2,693.4 $3,068.0 $3,405.7 $2,219.5 $1,890.5 $1,297.5 $1,019.9 $903.3 $804.9 $767.7 $763.4 $769.3 $785.1
Growth 11.1% 13.9% 11.0% -34.8% -14.8% -31.4% -21.4% -11.4% -10.9% -4.6% -0.6% 0.8% 2.1%
Share 54.2% 55.9% 56.6% 46.0% 41.9% 37.9% 35.1% 33.0% 31.9% 30.0% 28.5% 27.6% 27.1%
RA D IO 140.8 179.2 225.3 195.7 123.9 110.4 111.6 95.8 88.0 76.8 80.4 83.9 72.7
Growth 39.7% 27.3% 25.7% -13.1% -36.7% -10.9% 1.1% -14.2% -8.1% -12.8% 4.7% 4.4% -13.4%
Share 2.8% 3.3% 3.7% 4.1% 2.7% 3.2% 3.8% 3.5% 3.5% 3.0% 3.0% 3.0% 2.5%
N EWS PAP E RS 1,176.4 1,145.2 1,124.8 675.5 765.2 478.0 349.7 301.1 201.2 153.5 160.7 167.9 174.5
Growth 7.4% -2.7% -1.8% -39.9% 13.3% -37.5% -26.9% -13.9% -33.2% -23.7% 4.7% 4.4% 3.9%
Share 23.7% 20.9% 18.7% 14.0% 16.9% 14.0% 12.0% 11.0% 8.0% 6.0% 6.0% 6.0% 6.0%
MA GA ZINE S 202.5 233.2 205.8 279.9 207.1 170.7 99.1 68.4 62.9 51.2 40.2 28.0 29.1
Growth -16.7% 15.2% -11.7% 36.0% -26.0% -17.5% -42.0% -30.9% -8.1% -18.6% -21.5% -30.4% 3.9%
Share 4.1% 4.2% 3.4% 5.8% 4.6% 5.0% 3.4% 2.5% 2.5% 2.0% 1.5% 1.0% 1.0%
O U TD OOR + CINEMA 397.3 399.2 463.8 747.9 675.2 478.0 393.4 410.6 402.5 460.6 482.1 503.6 523.4
Growth 20.8% 0.5% 16.2% 61.3% -9.7% -29.2% -17.7% 4.4% -2.0% 14.5% 4.7% 4.4% 3.9%
Share 8.0% 7.3% 7.7% 15.5% 14.9% 14.0% 13.5% 15.0% 16.0% 18.0% 18.0% 18.1% 18.1%
IN TER N ET 359.6 465.7 594.3 709.3 855.2 887.8 932.5 958.0 959.8 1,049.2 1,151.8 1,230.9 1,308.6
Growth 32.0% 29.5% 27.6% 19.3% 20.6% 3.8% 5.0% 2.7% 0.2% 9.3% 9.8% 6.9% 6.3%
Share 7.2% 8.5% 9.9% 14.7% 18.9% 25.9% 32.1% 35.0% 38.1% 41.0% 43.0% 44.2% 45.2%
TO TA L $4,970.0 $5,490.6 $6,019.7 $4,827.8 $4,517.1 $3,422.4 $2,906.1 $2,737.2 $2,519.4 $2,559.1 $2,678.6 $2,783.6 $2,893.4
Growth 11.3% 10.5% 9.6% -19.8% -6.4% -24.2% -15.1% -5.8% -8.0% 1.6% 4.7% 3.9% 3.9%

31 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

ME X ICO ( TOTAL – USD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $2,244.9 $2,363.8 $2,389.6 $2,467.2 $2,528.7 $2,420.2 $2,269.7 $2,072.7 $2,032.3 $2,005.3 $2,010.1 $2,014.5 $1,995.7
Growth 8.8% 5.3% 1.1% 3.2% 2.5% -4.3% -6.2% -8.7% -2.0% -1.3% 0.2% 0.2% -0.9%
Share 63.0% 61.7% 63.3% 62.4% 61.1% 58.0% 52.7% 50.5% 49.0% 47.4% 46.1% 44.9% 43.1%
RA D IO 309.2 321.5 318.3 334.2 344.3 354.6 330.9 303.8 319.3 325.6 335.7 345.5 347.3
Growth 5.0% 4.0% -1.0% 5.0% 3.0% 3.0% -6.7% -8.2% 5.1% 2.0% 3.1% 2.9% 0.5%
Share 8.7% 8.4% 8.4% 8.5% 8.3% 8.5% 7.7% 7.4% 7.7% 7.7% 7.7% 7.7% 7.5%
N EWS PAP ERS 303.2 311.4 157.7 137.2 133.2 118.5 83.5 75.9 62.2 55.0 52.3 49.4 50.9
Growth -6.0% 2.7% -49.3% -13.0% -2.9% -11.0% -29.5% -9.0% -18.1% -11.6% -4.8% -5.7% 3.2%
Share 8.5% 8.1% 4.2% 3.5% 3.2% 2.8% 1.9% 1.9% 1.5% 1.3% 1.2% 1.1% 1.1%
MA GA ZINE S 98.0 104.5 109.9 107.8 105.7 91.7 63.0 51.7 49.1 50.1 48.0 44.9 46.3
Growth -2.0% 6.6% 5.2% -1.9% -2.0% -13.2% -31.3% -17.9% -5.0% 2.0% -4.3% -6.5% 3.2%
Share 2.8% 2.7% 2.9% 2.7% 2.6% 2.2% 1.5% 1.3% 1.2% 1.2% 1.1% 1.0% 1.0%
O U TD OOR + CINEMA 359.5 376.7 385.8 405.4 424.9 442.6 552.8 517.3 530.7 549.8 571.2 592.2 620.5
Growth 5.0% 4.8% 2.4% 5.1% 4.8% 4.2% 24.9% -6.4% 2.6% 3.6% 3.9% 3.7% 4.8%
Share 10.1% 9.8% 10.2% 10.3% 10.3% 10.6% 12.8% 12.6% 12.8% 13.0% 13.1% 13.2% 13.4%
IN TER N ET 247.1 352.9 416.4 499.7 599.6 746.6 1,003.4 1,083.8 1,152.7 1,243.4 1,343.0 1,440.2 1,569.7
Growth 30.0% 42.8% 18.0% 20.0% 20.0% 24.5% 34.4% 8.0% 6.4% 7.9% 8.0% 7.2% 9.0%
Share 6.9% 9.2% 11.0% 12.6% 14.5% 17.9% 23.3% 26.4% 27.8% 29.4% 30.8% 32.1% 33.9%
TO TA L $3,561.9 $3,830.8 $3,777.7 $3,951.5 $4,136.3 $4,174.2 $4,303.1 $4,105.2 $4,146.2 $4,229.2 $4,360.3 $4,486.7 $4,630.3
Growth 7.5% 7.6% -1.4% 4.6% 4.7% 0.9% 3.1% -4.6% 1.0% 2.0% 3.1% 2.9% 3.2%

MON T ENEGRO ( TOTAL – U SD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $7.6 $7.2 $7.1 $7.0 $7.2 $7.3 $7.3 $7.4 $7.5 $7.7 $7.8 $7.9 $8.1
Growth 27.7% -4.6% -0.7% -1.5% 2.6% 0.5% 0.0% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 59.6% 60.4% 59.4% 58.0% 57.9% 57.2% 56.8% 56.8% 56.8% 56.8% 56.8% 56.8% 56.8%
RA D IO 0.1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.4
Growth -67.4% 107.0% -2.8% -1.5% 1.5% 12.5% 0.0% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 1.2% 2.6% 2.5% 2.4% 2.4% 2.6% 2.6% 2.6% 2.6% 2.6% 2.6% 2.6% 2.6%
N EWS PAP ERS 2.3 1.2 1.1 1.1 1.1 1.1 0.9 0.9 0.9 0.9 1.0 1.0 1.0
Growth -23.6% -48.3% -2.8% -1.5% 1.5% 0.0% -21.6% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 17.9% 9.8% 9.5% 9.2% 9.1% 9.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0%
MA GA ZINE S 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Growth -23.6% -48.3% -2.8% -1.5% 1.5% 0.0% 0.0% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 2.7% 1.5% 1.4% 1.4% 1.4% 1.3% 1.3% 1.3% 1.3% 1.3% 1.3% 1.3% 1.3%
O U TD OOR + CINE MA 2.1 2.3 2.2 2.2 2.2 2.2 2.3 2.4 2.4 2.5 2.5 2.6 2.6
Growth -14.5% 10.9% -2.8% -1.5% 1.5% 0.0% 5.0% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 16.4% 19.3% 18.6% 18.1% 17.9% 17.6% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3% 18.3%
IN TER N ET 0.3 0.8 1.0 1.3 1.4 1.6 1.8 1.8 1.9 1.9 1.9 2.0 2.0
Growth -2.3% 158.7% 36.1% 26.6% 7.2% 10.5% 14.3% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 2.3% 6.4% 8.7% 10.9% 11.3% 12.3% 14.0% 14.0% 14.0% 14.0% 14.0% 14.0% 14.0%
TO TA L $12.7 $11.9 $12.0 $12.1 $12.5 $12.7 $12.8 $13.0 $13.3 $13.5 $13.7 $14.0 $14.2
Growth 1.4% -5.9% 0.9% 0.9% 2.8% 1.8% 0.7% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%

MYA N MAR ( TOTAL – U SD M M ) Source: Mango Media

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $74.9 $98.0 $117.8 $119.7 $134.8 $112.7 $109.1 $114.6 $120.3 $132.3 $145.5 $160.1 $168.1
Growth 66.1% 30.9% 20.2% 1.7% 12.6% -16.4% -3.2% 5.0% 5.0% 10.0% 10.0% 10.0% 5.0%
Share 63.4% 64.4% 66.3% 67.8% 72.7% 73.7% 60.2% 60.4% 58.5% 56.8% 54.9% 52.6% 48.8%
RA D IO 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Share 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
N EWS PAP ERS 32.4 37.8 42.1 38.6 33.1 25.7 18.2 16.4 17.2 17.2 16.3 15.5 15.5
Growth 39.7% 16.5% 11.4% -8.4% -14.3% -22.3% -29.2% -10.0% 5.0% 0.0% -5.0% -5.0% 0.0%
Share 27.4% 24.8% 23.7% 21.8% 17.8% 16.8% 10.0% 8.6% 8.4% 7.4% 6.2% 5.1% 4.5%
MA GA ZINE S 5.5 5.2 5.1 4.0 3.3 2.3 1.7 1.6 1.4 1.1 1.0 1.0 1.0
Growth 2.7% -4.1% -3.1% -22.1% -15.8% -31.1% -23.9% -10.0% -10.0% -20.0% -10.0% 0.0% 0.0%
Share 4.6% 3.4% 2.9% 2.2% 1.8% 1.5% 1.0% 0.8% 0.7% 0.5% 0.4% 0.3% 0.3%
O U TD OOR + CINE MA 5.4 11.2 12.7 14.5 14.1 12.2 12.3 11.0 11.6 13.3 16.0 20.0 25.0
Growth 29.8% 106.2% 13.4% 14.2% -2.4% -13.3% 0.2% -10.0% 5.0% 15.0% 20.0% 25.0% 25.0%
Share 4.6% 7.3% 7.1% 8.2% 7.6% 8.0% 6.8% 5.8% 5.6% 5.7% 6.0% 6.6% 7.3%
IN TER N ET 0.0 0.0 0.0 0.0 0.0 0.0 40.0 46.0 55.2 69.0 86.3 107.8 134.8
Growth ------ ------ ------ ------ ------ ------ ------ 15.0% 20.0% 25.0% 25.0% 25.0% 25.0%
Share 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 22.1% 24.3% 26.8% 29.6% 32.5% 35.4% 39.1%
TO TA L $118.2 $152.2 $177.6 $176.7 $185.3 $153.0 $181.3 $189.5 $205.7 $233.0 $265.1 $304.4 $344.4
Growth 51.9% 28.8% 16.7% -0.5% 4.8% -17.4% 18.5% 4.5% 8.5% 13.3% 13.8% 14.8% 13.1%

N E T H ERLANDS ( TOTA L – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $938.5 $915.1 $929.3 $929.3 $949.4 $890.2 $917.0 $914.1 $929.9 $955.9 $985.5 $1,007.2 $1,034.4
Growth -6.6% -2.5% 1.6% 0.0% 2.2% -6.2% 3.0% -0.3% 1.7% 2.8% 3.1% 2.2% 2.7%
Share 24.5% 24.5% 24.3% 24.2% 24.0% 22.3% 22.6% 21.7% 21.3% 21.3% 21.3% 21.3% 21.3%
RA D IO 209.1 217.8 225.1 217.6 217.8 217.1 219.1 230.1 235.7 242.3 249.9 255.3 262.2
Growth -6.6% 4.1% 3.3% -3.3% 0.1% -0.3% 0.9% 5.0% 2.5% 2.8% 3.1% 2.2% 2.7%
Share 5.4% 5.8% 5.9% 5.7% 5.5% 5.4% 5.4% 5.5% 5.4% 5.4% 5.4% 5.4% 5.4%
N EWS PAP ERS 811.4 676.3 604.4 536.4 479.1 439.0 408.8 389.4 366.7 377.0 388.7 397.2 407.9
Growth -16.2% -16.6% -10.6% -11.3% -10.7% -8.4% -6.9% -4.8% -5.8% 2.8% 3.1% 2.2% 2.7%
Share 21.1% 18.1% 15.8% 14.0% 12.1% 11.0% 10.1% 9.2% 8.4% 8.4% 8.4% 8.4% 8.4%
MA GA ZINE S 422.7 365.4 336.2 310.0 287.6 266.6 242.6 212.4 192.1 179.5 175.8 175.0 174.8
Growth -10.9% -13.6% -8.0% -7.8% -7.2% -7.3% -9.0% -12.4% -9.6% -6.5% -2.1% -0.5% -0.1%
Share 11.0% 9.8% 8.8% 8.1% 7.3% 6.7% 6.0% 5.0% 4.4% 4.0% 3.8% 3.7% 3.6%
O U TD OOR + CINEMA 162.7 155.4 161.3 173.6 180.6 180.3 190.7 206.4 213.9 224.4 236.0 241.2 247.7
Growth 3.0% -4.5% 3.8% 7.6% 4.0% -0.2% 5.7% 8.3% 3.6% 4.9% 5.2% 2.2% 2.7%
Share 4.2% 4.2% 4.2% 4.5% 4.6% 4.5% 4.7% 4.9% 4.9% 5.0% 5.1% 5.1% 5.1%
IN TER N ET 1,293.4 1,401.8 1,560.4 1,665.4 1,841.8 1,992.6 2,085.3 2,257.3 2,427.2 2,513.1 2,591.1 2,652.8 2,729.3
Growth 8.3% 8.4% 11.3% 6.7% 10.6% 8.2% 4.7% 8.2% 7.5% 3.5% 3.1% 2.4% 2.9%
Share 33.7% 37.6% 40.9% 43.5% 46.6% 50.0% 51.3% 53.6% 55.6% 56.0% 56.0% 56.1% 56.2%
TO TA L $3,837.9 $3,731.8 $3,816.7 $3,832.2 $3,956.4 $3,985.8 $4,063.5 $4,209.8 $4,365.5 $4,487.8 $4,626.9 $4,728.7 $4,856.3
Growth -4.6% -2.8% 2.3% 0.4% 3.2% 0.7% 1.9% 3.6% 3.7% 2.8% 3.1% 2.2% 2.7%

32 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

N E W ZEALAND ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $327.1 $340.2 $314.4 $310.3 $288.6 $293.7 $287.7 $279.7 $277.3 $277.4 $280.4 $286.8 $296.8
Growth -3.2% 4.0% -7.6% -1.3% -7.0% 1.8% -2.0% -2.8% -0.9% 0.0% 1.1% 2.3% 3.5%
Share 31.8% 30.9% 29.3% 27.0% 24.3% 23.6% 24.5% 23.8% 23.4% 23.2% 23.3% 23.7% 24.3%
RA D IO 125.6 152.5 162.3 195.1 177.1 179.1 172.8 163.3 165.4 166.4 167.4 168.4 169.3
Growth -4.6% 21.4% 6.4% 20.2% -9.2% 1.1% -3.6% -5.5% 1.3% 0.6% 0.6% 0.6% 0.5%
Share 12.2% 13.9% 15.1% 17.0% 14.9% 14.4% 14.7% 13.9% 14.0% 13.9% 13.9% 13.9% 13.9%
N EWS PAP ERS 293.3 270.0 217.1 180.8 156.9 151.1 117.4 111.6 98.0 86.0 75.5 66.3 58.2
Growth -17.3% -7.9% -19.6% -16.7% -13.2% -3.7% -22.3% -5.0% -12.2% -12.2% -12.2% -12.2% -12.2%
Share 28.5% 24.5% 20.2% 15.7% 13.2% 12.2% 10.0% 9.5% 8.3% 7.2% 6.3% 5.5% 4.8%
MA GA ZINES 68.1 62.6 55.7 48.2 43.6 38.9 31.0 30.2 29.0 25.6 22.5 19.8 17.5
Growth -14.0% -8.1% -10.9% -13.5% -9.5% -10.8% -20.2% -2.7% -4.0% -11.9% -11.9% -11.9% -11.9%
Share 6.6% 5.7% 5.2% 4.2% 3.7% 3.1% 2.6% 2.6% 2.4% 2.1% 1.9% 1.6% 1.4%
O U TD OOR + CINE MA 37.9 44.9 48.2 53.1 67.2 78.5 79.3 80.9 85.5 90.3 95.3 100.4 105.7
Growth -11.7% 18.4% 7.4% 10.2% 26.4% 16.9% 1.1% 2.0% 5.7% 5.6% 5.5% 5.4% 5.3%
Share 3.7% 4.1% 4.5% 4.6% 5.7% 6.3% 6.8% 6.9% 7.2% 7.6% 7.9% 8.3% 8.7%
IN TER N ET 176.8 230.2 276.3 360.7 453.4 500.4 483.9 509.7 529.3 548.0 561.8 570.7 574.3
Growth 18.2% 30.2% 20.0% 30.5% 25.7% 10.4% -3.3% 5.3% 3.8% 3.5% 2.5% 1.6% 0.6%
Share 17.2% 20.9% 25.7% 31.4% 38.2% 40.3% 41.3% 43.4% 44.7% 45.9% 46.7% 47.1% 47.0%
TO TA L $1,028.9 $1,100.4 $1,074.1 $1,148.2 $1,186.7 $1,241.8 $1,172.2 $1,175.4 $1,184.5 $1,193.7 $1,203.0 $1,212.4 $1,221.8
Growth -6.1% 6.9% -2.4% 6.9% 3.4% 4.6% -5.6% 0.3% 0.8% 0.8% 0.8% 0.8% 0.8%

N I GE RIA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $255.7 $243.4 $173.4 $163.0 $108.9 $95.9 $107.4 $120.3 $135.9 $153.6 $175.1 $197.9 $227.5
Growth 131.6% -4.8% -28.8% -6.0% -33.2% -11.9% 12.0% 12.0% 13.0% 13.0% 14.0% 13.0% 15.0%
Share 60.5% 54.9% 47.8% 50.4% 36.8% 34.0% 34.4% 35.9% 36.1% 36.3% 36.5% 36.3% 36.9%
RA D IO 72.3 69.5 53.3 40.1 45.7 35.3 39.5 44.3 50.0 56.5 64.4 72.8 83.7
Growth 77.1% -3.8% -23.4% -24.8% 14.0% -22.8% 12.0% 12.0% 13.0% 13.0% 14.0% 13.0% 15.0%
Share 17.1% 15.7% 14.7% 12.4% 15.5% 12.5% 12.6% 13.2% 13.3% 13.3% 13.4% 13.4% 13.6%
N EWS PAP E RS 20.1 33.7 43.5 39.2 38.7 48.5 54.4 60.9 68.2 76.4 85.6 96.7 108.3
Growth 27.6% 67.4% 29.0% -9.8% -1.5% 25.6% 12.0% 12.0% 12.0% 12.0% 12.0% 13.0% 12.0%
Share 4.8% 7.6% 12.0% 12.1% 13.1% 17.2% 17.4% 18.2% 18.1% 18.0% 17.9% 17.8% 17.6%
MA GA ZINE S 10.8 20.7 26.7 24.0 25.8 26.1 26.2 29.8 33.3 37.3 42.2 47.2 53.4
Growth 27.6% 90.6% 29.1% -9.9% 7.2% 1.4% 0.1% 13.8% 12.0% 12.0% 13.0% 12.0% 13.0%
Share 2.6% 4.7% 7.4% 7.4% 8.7% 9.3% 8.4% 8.9% 8.8% 8.8% 8.8% 8.7% 8.7%
O U TD OOR + CINE MA 50.4 65.6 56.4 48.2 68.3 69.0 77.3 71.8 80.4 90.0 101.7 118.9 131.9
Growth -21.7% 30.2% -14.1% -14.5% 41.7% 1.0% 12.0% -7.1% 12.0% 12.0% 13.0% 16.9% 10.9%
Share 11.9% 14.8% 15.6% 14.9% 23.1% 24.4% 24.7% 21.4% 21.3% 21.3% 21.2% 21.8% 21.4%
IN TER N ET 13.0 10.6 9.4 8.6 8.3 7.5 7.9 8.4 9.0 9.6 10.3 10.9 11.8
Growth 327.5% -18.4% -11.0% -8.7% -3.8% -10.0% 6.0% 6.0% 7.0% 7.0% 7.0% 6.0% 8.0%
Share 3.1% 2.4% 2.6% 2.7% 2.8% 2.6% 2.5% 2.5% 2.4% 2.3% 2.1% 2.0% 1.9%
TO TA L $422.3 $443.6 $362.6 $323.1 $295.5 $282.3 $312.6 $335.3 $376.8 $423.4 $479.3 $544.4 $616.6
Growth 73.9% 5.0% -18.2% -10.9% -8.5% -4.5% 10.7% 7.3% 12.4% 12.4% 13.2% 13.6% 13.3%

N O RWAY ( TOTAL – USD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $400.7 $418.3 $418.8 $425.4 $433.4 $436.6 $417.7 $396.9 $381.8 $375.6 $365.9 $360.3 $357.8
Growth 7.8% 4.4% 0.1% 1.6% 1.9% 0.7% -4.3% -5.0% -3.8% -1.6% -2.6% -1.5% -0.7%
Share 22.2% 23.1% 21.5% 21.9% 22.8% 22.0% 19.9% 18.4% 17.1% 16.4% 15.6% 15.0% 14.5%
RA D IO 66.2 65.5 78.7 84.0 79.9 79.4 69.6 64.5 63.8 61.2 57.9 56.5 56.0
Growth 7.7% -1.2% 20.2% 6.9% -5.0% -0.6% -12.3% -7.4% -1.0% -4.0% -5.5% -2.3% -0.9%
Share 3.7% 3.6% 4.0% 4.3% 4.2% 4.0% 3.3% 3.0% 2.9% 2.7% 2.5% 2.4% 2.3%
N EWS PAP ERS 621.7 564.4 539.6 437.6 355.8 307.4 276.8 247.3 222.2 199.4 182.5 169.1 158.2
Growth -7.3% -9.2% -4.4% -18.9% -18.7% -13.6% -9.9% -10.7% -10.1% -10.3% -8.5% -7.4% -6.5%
Share 34.5% 31.2% 27.7% 22.5% 18.7% 15.5% 13.2% 11.4% 9.9% 8.7% 7.8% 7.0% 6.4%
MA GA ZINE S 115.1 106.5 98.6 86.8 73.0 66.6 76.3 70.7 67.1 66.4 61.0 59.2 58.0
Growth -4.0% -7.5% -7.4% -11.9% -15.8% -8.9% 14.7% -7.3% -5.1% -1.1% -8.1% -3.0% -1.9%
Share 6.4% 5.9% 5.1% 4.5% 3.8% 3.4% 3.6% 3.3% 3.0% 2.9% 2.6% 2.5% 2.4%
O U TD OOR + CINEMA 81.2 81.6 75.6 80.0 88.1 101.3 101.5 108.0 112.0 116.4 118.8 122.7 126.1
Growth 3.4% 0.5% -7.4% 5.8% 10.2% 15.0% 0.2% 6.4% 3.7% 4.0% 2.0% 3.3% 2.8%
Share 4.5% 4.5% 3.9% 4.1% 4.6% 5.1% 4.8% 5.0% 5.0% 5.1% 5.1% 5.1% 5.1%
IN TER N ET 519.2 574.9 734.4 830.0 871.1 992.0 1,153.8 1,274.9 1,386.6 1,470.3 1,560.6 1,637.5 1,709.4
Growth 8.4% 10.7% 27.7% 13.0% 4.9% 13.9% 16.3% 10.5% 8.8% 6.0% 6.1% 4.9% 4.4%
Share 28.8% 31.7% 37.7% 42.7% 45.8% 50.0% 55.1% 59.0% 62.1% 64.2% 66.5% 68.1% 69.3%
TO TA L $1,804.1 $1,811.1 $1,945.6 $1,943.9 $1,901.3 $1,983.3 $2,095.8 $2,162.4 $2,233.5 $2,289.4 $2,346.6 $2,405.3 $2,465.4
Growth 1.3% 0.4% 7.4% -0.1% -2.2% 4.3% 5.7% 3.2% 3.3% 2.5% 2.5% 2.5% 2.5%

PA KISTAN ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $245.6 $328.2 $354.0 $403.7 $433.2 $409.9 $394.6 $366.9 $352.3 $345.2 $345.2 $362.5 $369.7
Growth 19.9% 33.6% 7.9% 14.0% 7.3% -5.4% -3.8% -7.0% -4.0% -2.0% 0.0% 5.0% 2.0%
Share 74.7% 75.6% 75.6% 77.2% 76.8% 72.6% 69.9% 69.6% 68.5% 67.9% 67.6% 67.9% 68.0%
RA D IO 5.5 4.3 5.2 6.6 6.7 10.1 9.3 8.1 7.3 6.5 6.2 5.9 5.9
Growth -7.3% -22.1% 20.7% 26.3% 2.0% 51.1% -8.4% -13.0% -10.0% -10.0% -5.0% -5.0% 0.0%
Share 1.7% 1.0% 1.1% 1.3% 1.2% 1.8% 1.6% 1.5% 1.4% 1.3% 1.2% 1.1% 1.1%
N EWS PAP ERS 34.9 45.4 43.4 43.4 45.0 48.1 45.4 38.6 34.7 31.2 31.2 34.4 34.4
Growth -8.9% 30.2% -4.5% 0.0% 3.7% 7.0% -5.7% -15.0% -10.0% -10.0% 0.0% 10.0% 0.0%
Share 10.6% 10.5% 9.3% 8.3% 8.0% 8.5% 8.0% 7.3% 6.8% 6.1% 6.1% 6.4% 6.3%
MA GA ZINE S 4.2 4.6 4.8 4.8 5.1 6.8 6.4 5.5 4.9 4.4 4.2 4.0 3.8
Growth -8.3% 11.5% 4.0% 0.0% 6.7% 32.0% -5.0% -15.0% -10.0% -10.0% -5.0% -5.0% -5.0%
Share 1.3% 1.1% 1.0% 0.9% 0.9% 1.2% 1.1% 1.0% 1.0% 0.9% 0.8% 0.8% 0.7%
O U TD OOR + CINEMA 34.7 47.6 53.3 54.6 63.0 66.1 69.4 62.5 64.4 66.3 66.3 66.3 66.3
Growth -22.9% 37.0% 12.2% 2.4% 15.3% 5.0% 5.0% -10.0% 3.0% 3.0% 0.0% 0.0% 0.0%
Share 10.6% 11.0% 11.4% 10.5% 11.2% 11.7% 12.3% 11.8% 12.5% 13.0% 13.0% 12.4% 12.2%
IN TER N ET 3.8 3.9 7.7 9.6 10.9 23.4 39.2 45.9 50.5 54.6 57.8 60.7 63.8
Growth -0.2% 0.2% 100.0% 25.0% 13.3% 114.2% 67.5% 17.2% 10.0% 8.0% 6.0% 5.0% 5.0%
Share 1.2% 0.9% 1.6% 1.8% 1.9% 4.1% 6.9% 8.7% 9.8% 10.7% 11.3% 11.4% 11.7%
TO TA L $328.7 $433.9 $468.4 $522.7 $563.9 $564.5 $564.3 $527.5 $514.1 $508.3 $511.0 $533.8 $543.9
Growth 8.7% 32.0% 7.9% 11.6% 7.9% 0.1% 0.0% -6.5% -2.5% -1.1% 0.5% 4.5% 1.9%

33 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

P E R U ( TOTAL – USDM M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $0.0 $0.0 $0.0 $357.3 $370.7 $343.2 $371.2 $334.9 $454.6 $459.0 $490.1 $500.5 $532.0
Growth ------ ------ ------ ------ 3.7% -7.4% 8.2% -9.8% 35.7% 1.0% 6.8% 2.1% 6.3%
Share 0.0% 0.0% 0.0% 49.8% 49.1% 43.9% 43.5% 40.4% 45.8% 44.8% 45.1% 44.4% 44.6%
RA D IO 0.0 0.0 0.0 89.7 96.7 103.8 118.1 112.1 118.1 123.4 128.7 134.0 139.3
Growth ------ ------ ------ ------ 7.7% 7.4% 13.8% -5.1% 5.4% 4.5% 4.3% 4.1% 4.0%
Share 0.0% 0.0% 0.0% 12.5% 12.8% 13.3% 13.8% 13.5% 11.9% 12.0% 11.9% 11.9% 11.7%
N EWS PAP ERS 0.0 0.0 0.0 115.3 111.8 114.1 118.7 118.1 124.0 126.4 128.7 131.1 133.5
Growth ------ ------ ------ ------ -3.0% 2.1% 4.0% -0.6% 5.1% 1.9% 1.9% 1.8% 1.8%
Share 0.0% 0.0% 0.0% 16.1% 14.8% 14.6% 13.9% 14.2% 12.5% 12.3% 11.9% 11.6% 11.2%
MA GA ZINES 0.0 0.0 0.0 16.7 14.6 12.1 10.1 9.0 9.0 8.8 8.3 7.8 7.7
Growth ------ ------ ------ ------ -12.7% -16.7% -17.1% -10.4% -0.5% -2.0% -6.0% -5.0% -2.0%
Share 0.0% 0.0% 0.0% 2.3% 1.9% 1.6% 1.2% 1.1% 0.9% 0.9% 0.8% 0.7% 0.6%
O U TD OOR + CINEMA 0.0 0.0 0.0 64.9 81.8 102.6 126.2 135.3 154.1 162.4 170.6 178.8 187.1
Growth ------ ------ ------ ------ 26.1% 25.4% 23.0% 7.2% 13.9% 5.3% 5.1% 4.8% 4.6%
Share 0.0% 0.0% 0.0% 9.0% 10.8% 13.1% 14.8% 16.3% 15.5% 15.8% 15.7% 15.9% 15.7%
IN TER N ET 38.3 49.4 66.0 74.0 79.0 105.0 109.0 119.9 131.9 145.1 159.6 175.5 193.1
Growth 57.6% 29.0% 33.6% 12.1% 6.8% 32.9% 3.8% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Share 100.0% 100.0% 100.0% 10.3% 10.5% 13.4% 12.8% 14.5% 13.3% 14.2% 14.7% 15.6% 16.2%
TO TA L $38.3 $49.4 $66.0 $717.9 $754.6 $780.9 $853.3 $829.3 $991.7 $1,025.0 $1,086.0 $1,127.8 $1,192.6
Growth 57.6% 29.0% 33.6% 987.8% 5.1% 3.5% 9.3% -2.8% 19.6% 3.4% 5.9% 3.9% 5.7%

P H ILIPPINES ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $438.2 $495.5 $471.3 $536.6 $657.6 $590.9 $573.1 $608.5 $654.8 $721.3 $801.6 $860.8 $952.2
Growth -10.6% 13.1% -4.9% 13.8% 22.6% -10.1% -3.0% 6.2% 7.6% 10.2% 11.1% 7.4% 10.6%
Share 67.2% 66.6% 65.0% 65.4% 69.8% 66.3% 64.5% 62.8% 62.0% 61.7% 61.0% 60.1% 60.0%
RA D IO 82.2 92.9 88.4 100.6 77.4 69.5 67.4 126.0 138.3 153.1 160.3 174.7 180.9
Growth -10.6% 13.1% -4.9% 13.8% -23.1% -10.1% -3.0% 86.8% 9.8% 10.7% 4.7% 9.0% 3.5%
Share 12.6% 12.5% 12.2% 12.3% 8.2% 7.8% 7.6% 13.0% 13.1% 13.1% 12.2% 12.2% 11.4%
N EWS PAP E RS 40.8 42.6 44.3 46.1 47.9 49.7 51.4 13.6 13.7 9.4 9.2 8.6 7.9
Growth 4.5% 4.3% 4.2% 4.0% 3.8% 3.7% 3.6% -73.6% 1.2% -31.9% -1.6% -6.6% -7.7%
Share 6.3% 5.7% 6.1% 5.6% 5.1% 5.6% 5.8% 1.4% 1.3% 0.8% 0.7% 0.6% 0.5%
MA GA ZINE S 4.5 4.7 4.9 5.1 5.3 5.5 5.7 1.0 1.1 1.2 1.3 1.4 1.6
Growth 4.5% 4.3% 4.2% 4.0% 3.8% 3.7% 3.6% -83.0% 9.0% 10.7% 12.4% 9.0% 10.8%
Share 0.7% 0.6% 0.7% 0.6% 0.6% 0.6% 0.6% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%
O U TD OOR + CINE MA 47.3 49.3 51.2 53.2 55.2 57.1 59.1 45.5 47.5 50.3 52.6 57.3 47.6
Growth 4.3% 4.2% 4.0% 3.8% 3.7% 3.6% 3.4% -23.0% 4.4% 5.8% 4.6% 9.0% -16.9%
Share 7.2% 6.6% 7.1% 6.5% 5.9% 6.4% 6.7% 4.7% 4.5% 4.3% 4.0% 4.0% 3.0%
IN TER N ET 39.4 59.1 65.0 78.8 98.5 118.2 132.0 174.4 200.7 233.8 289.1 329.4 396.7
Growth 42.9% 50.0% 10.0% 21.2% 25.0% 20.0% 11.7% 32.1% 15.1% 16.5% 23.6% 14.0% 20.4%
Share 6.0% 7.9% 9.0% 9.6% 10.5% 13.3% 14.9% 18.0% 19.0% 20.0% 22.0% 23.0% 25.0%
TO TA L $652.4 $744.1 $725.2 $820.5 $941.9 $890.9 $888.9 $968.9 $1,056.1 $1,169.1 $1,314.0 $1,432.3 $1,587.0
Growth -6.5% 14.1% -2.5% 13.1% 14.8% -5.4% -0.2% 9.0% 9.0% 10.7% 12.4% 9.0% 10.8%

P O LA ND ( TOTAL – USD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $969.7 $882.4 $939.8 $979.3 $1,018.8 $1,058.3 $1,174.7 $1,195.9 $1,141.3 $1,158.4 $1,193.2 $1,229.0 $1,265.9
Growth -5.0% -9.0% 6.5% 4.2% 4.0% 3.9% 11.0% 1.8% -4.6% 1.5% 3.0% 3.0% 3.0%
Share 44.1% 43.5% 44.8% 42.9% 41.8% 41.2% 41.7% 41.5% 39.5% 38.7% 38.2% 37.8% 37.5%
RA D IO 147.5 140.1 144.3 157.4 170.4 177.3 182.6 177.7 183.5 186.2 191.8 197.6 203.5
Growth 3.1% -5.0% 3.0% 9.1% 8.3% 4.0% 3.0% -2.6% 3.2% 1.5% 3.0% 3.0% 3.0%
Share 6.7% 6.9% 6.9% 6.9% 7.0% 6.9% 6.5% 6.2% 6.3% 6.2% 6.1% 6.1% 6.0%
N EWS PAP ERS 131.4 72.2 54.2 47.8 41.4 38.1 35.8 31.5 27.6 28.0 28.9 29.8 30.7
Growth -12.9% -45.0% -25.0% -11.8% -13.4% -8.0% -6.0% -12.1% -12.2% 1.5% 3.0% 3.0% 3.0%
Share 6.0% 3.6% 2.6% 2.1% 1.7% 1.5% 1.3% 1.1% 1.0% 0.9% 0.9% 0.9% 0.9%
MA GA ZINES 174.7 134.5 111.7 99.4 87.2 80.2 76.2 65.5 57.9 58.8 60.5 62.3 64.2
Growth -7.0% -23.0% -17.0% -10.9% -12.3% -8.0% -5.0% -14.0% -11.7% 1.5% 3.0% 3.0% 3.0%
Share 8.0% 6.6% 5.3% 4.4% 3.6% 3.1% 2.7% 2.3% 2.0% 2.0% 1.9% 1.9% 1.9%
O U TD OOR + CINEMA 172.9 159.4 161.6 164.4 167.2 170.8 174.3 173.9 174.7 177.3 182.6 188.1 193.7
Growth -5.6% -7.8% 1.4% 1.7% 1.7% 2.2% 2.0% -0.2% 0.4% 1.5% 3.0% 3.0% 3.0%
Share 7.9% 7.9% 7.7% 7.2% 6.9% 6.7% 6.2% 6.0% 6.0% 5.9% 5.8% 5.8% 5.7%
IN TER N ET 600.6 639.0 685.5 833.7 952.4 1,041.0 1,175.2 1,233.8 1,307.9 1,386.5 1,469.8 1,543.1 1,620.3
Growth 22.2% 6.4% 7.3% 21.6% 14.2% 9.3% 12.9% 5.0% 6.0% 6.0% 6.0% 5.0% 5.0%
Share 27.3% 31.5% 32.7% 36.5% 39.1% 40.6% 41.7% 42.9% 45.2% 46.3% 47.0% 47.5% 48.0%
TO TA L $2,196.8 $2,027.8 $2,097.1 $2,282.0 $2,437.5 $2,565.7 $2,818.8 $2,878.4 $2,892.9 $2,995.3 $3,126.8 $3,249.8 $3,378.3
Growth 0.9% -7.7% 3.4% 8.8% 6.8% 5.3% 9.9% 2.1% 0.5% 3.5% 4.4% 3.9% 4.0%

P O RT UGAL ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $326.5 $300.3 $322.3 $327.4 $341.8 $346.0 $347.3 $357.7 $368.5 $379.5 $390.9 $402.6 $414.7
Growth -17.7% -8.0% 7.3% 1.6% 4.4% 1.2% 0.4% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
Share 44.7% 43.5% 42.3% 42.3% 42.0% 41.7% 40.2% 39.9% 39.5% 39.3% 38.9% 38.6% 38.2%
RA D IO 46.4 40.6 44.8 44.4 47.8 50.4 51.4 54.4 57.2 59.5 61.8 64.3 66.9
Growth -11.6% -12.6% 10.5% -0.9% 7.6% 5.5% 1.8% 6.0% 5.0% 4.0% 4.0% 4.0% 4.0%
Share 6.4% 5.9% 5.9% 5.7% 5.9% 6.1% 5.9% 6.1% 6.1% 6.2% 6.2% 6.2% 6.2%
N EWS PAP ERS 62.3 49.3 49.9 44.3 34.2 27.5 23.2 19.7 17.7 15.6 14.9 14.0 13.3
Growth -24.1% -20.9% 1.2% -11.1% -23.0% -19.6% -15.7% -15.0% -10.0% -11.7% -5.0% -5.9% -5.0%
Share 8.5% 7.1% 6.6% 5.7% 4.2% 3.3% 2.7% 2.2% 1.9% 1.6% 1.5% 1.3% 1.2%
MA GA ZINE S 42.2 38.4 39.8 37.1 31.8 26.0 21.1 17.9 16.1 14.5 13.8 13.1 12.4
Growth -27.0% -8.9% 3.5% -6.8% -14.1% -18.4% -19.0% -15.0% -10.0% -10.0% -5.0% -5.0% -5.0%
Share 5.8% 5.6% 5.2% 4.8% 3.9% 3.1% 2.4% 2.0% 1.7% 1.5% 1.4% 1.3% 1.1%
O U TD OOR + CINEMA 184.0 181.6 209.9 202.9 216.0 216.8 233.2 241.4 247.4 252.4 258.7 263.9 270.5
Growth -10.5% -1.3% 15.6% -3.3% 6.4% 0.4% 7.6% 3.5% 2.5% 2.0% 2.5% 2.0% 2.5%
Share 25.2% 26.3% 27.6% 26.2% 26.5% 26.1% 27.0% 26.9% 26.5% 26.1% 25.8% 25.3% 24.9%
IN TER N ET 69.2 79.4 94.4 118.2 142.5 163.4 187.2 206.0 226.6 244.7 264.3 285.4 308.2
Growth 6.8% 14.8% 18.9% 25.2% 20.5% 14.7% 14.6% 10.0% 10.0% 8.0% 8.0% 8.0% 8.0%
Share 9.5% 11.5% 12.4% 15.3% 17.5% 19.7% 21.7% 23.0% 24.3% 25.3% 26.3% 27.4% 28.4%
TO TA L $730.6 $689.6 $761.1 $774.4 $814.1 $830.1 $863.4 $897.1 $933.4 $966.2 $1,004.3 $1,043.3 $1,086.0
Growth -15.0% -5.6% 10.4% 1.7% 5.1% 2.0% 4.0% 3.9% 4.0% 3.5% 3.9% 3.9% 4.1%

34 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

R O M ANIA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $200.9 $197.4 $200.9 $213.8 $246.7 $284.3 $314.8 $346.3 $381.0 $400.0 $420.0 $441.0 $463.1
Growth -5.2% -1.8% 1.8% 6.4% 15.4% 15.2% 10.7% 10.0% 10.0% 5.0% 5.0% 5.0% 5.0%
Share 67.3% 66.3% 65.3% 64.4% 65.4% 65.6% 65.0% 64.0% 63.4% 62.9% 62.3% 61.7% 61.1%
RA D IO 22.3 23.0 23.5 24.7 25.4 29.1 32.4 34.0 35.7 37.5 39.4 41.4 43.5
Growth -3.1% 3.2% 2.0% 5.0% 2.9% 14.8% 11.3% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%
Share 7.5% 7.7% 7.6% 7.4% 6.7% 6.7% 6.7% 6.3% 6.0% 5.9% 5.8% 5.8% 5.7%
N EWS PAP ERS 9.4 8.7 8.5 8.5 8.5 7.5 6.6 6.4 6.3 6.2 6.1 5.9 5.8
Growth -24.5% -7.5% -2.4% -0.3% 0.0% -11.1% -12.5% -2.0% -2.0% -2.0% -2.0% -2.0% -2.0%
Share 3.1% 2.9% 2.8% 2.5% 2.2% 1.7% 1.4% 1.2% 1.1% 1.0% 0.9% 0.8% 0.8%
MA GA ZINE S 10.6 9.9 9.6 9.6 9.9 8.9 8.0 7.8 7.7 7.5 7.4 7.2 7.1
Growth -31.8% -6.7% -2.7% 0.4% 2.4% -9.5% -10.5% -2.0% -2.0% -2.0% -2.0% -2.0% -2.0%
Share 3.5% 3.3% 3.1% 2.9% 2.6% 2.1% 1.6% 1.4% 1.3% 1.2% 1.1% 1.0% 0.9%
O U TD OOR + CINEMA 29.4 27.0 27.5 29.4 31.5 33.8 35.7 37.5 39.4 41.3 43.4 45.6 47.9
Growth -14.4% -8.0% 1.7% 6.8% 7.2% 7.5% 5.6% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%
Share 9.8% 9.1% 8.9% 8.9% 8.3% 7.8% 7.4% 6.9% 6.6% 6.5% 6.4% 6.4% 6.3%
IN TER N ET 25.8 31.7 37.6 45.8 55.5 69.8 86.9 108.7 130.4 143.4 157.8 173.6 190.9
Growth 29.4% 22.7% 18.5% 21.9% 21.0% 25.8% 24.6% 25.0% 20.0% 10.0% 10.0% 10.0% 10.0%
Share 8.7% 10.7% 12.2% 13.8% 14.7% 16.1% 17.9% 20.1% 21.7% 22.6% 23.4% 24.3% 25.2%
TO TA L $298.4 $297.7 $307.6 $331.8 $377.3 $433.5 $484.5 $540.8 $600.5 $636.1 $674.1 $714.7 $758.2
Growth -5.9% -0.2% 3.3% 7.9% 13.7% 14.9% 11.8% 11.6% 11.0% 5.9% 6.0% 6.0% 6.1%

R U SSIA ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $2,258.4 $2,463.4 $2,520.2 $2,156.6 $2,378.2 $2,694.5 $2,949.4 $2,785.9 $2,882.9 $2,938.1 $2,996.4 $3,117.0 $3,179.4
Growth 9.3% 9.1% 2.3% -14.4% 10.3% 13.3% 9.5% -5.5% 3.5% 1.9% 2.0% 4.0% 2.0%
Share 48.1% 47.7% 47.0% 42.4% 41.5% 41.0% 39.9% 36.6% 36.4% 35.3% 34.1% 33.7% 33.0%
RA D IO 230.3 260.2 266.5 223.9 258.8 266.5 266.5 255.5 241.3 244.4 251.4 263.5 282.5
Growth 23.7% 13.0% 2.4% -16.0% 15.5% 3.0% 0.0% -4.1% -5.6% 1.3% 2.8% 4.8% 7.2%
Share 4.9% 5.0% 5.0% 4.4% 4.5% 4.1% 3.6% 3.4% 3.0% 2.9% 2.9% 2.9% 2.9%
N EWS PAP E RS 149.8 137.2 127.7 101.6 155.0 136.4 113.5 83.6 67.0 59.9 55.2 52.0 48.9
Growth 8.0% -8.4% -6.9% -20.5% 52.6% -12.0% -16.8% -26.4% -19.8% -10.6% -7.9% -5.7% -6.1%
Share 3.2% 2.7% 2.4% 2.0% 2.7% 2.1% 1.5% 1.1% 0.8% 0.7% 0.6% 0.6% 0.5%
MA GA ZINE S 499.9 446.3 394.3 267.5 196.7 186.9 170.3 156.1 141.1 129.3 126.2 121.4 118.3
Growth 0.3% -10.7% -11.7% -32.2% -26.5% -5.0% -8.9% -8.3% -9.6% -8.4% -2.4% -3.8% -2.6%
Share 10.6% 8.6% 7.3% 5.3% 3.4% 2.8% 2.3% 2.0% 1.8% 1.6% 1.4% 1.3% 1.2%
O U TD OOR + CINEMA 672.0 731.8 721.4 571.1 604.0 660.8 689.0 654.5 637.1 647.4 690.8 711.3 734.9
Growth 11.0% 8.9% -1.4% -20.8% 5.8% 9.4% 4.3% -5.0% -2.7% 1.6% 6.7% 3.0% 3.3%
Share 14.3% 14.2% 13.4% 11.2% 10.5% 10.1% 9.3% 8.6% 8.1% 7.8% 7.9% 7.7% 7.6%
IN TER N ET 887.9 1,130.8 1,334.2 1,766.3 2,144.8 2,622.7 3,206.2 3,681.7 3,942.7 4,311.7 4,660.2 4,974.3 5,272.8
Growth 34.7% 27.4% 18.0% 32.4% 21.4% 22.3% 22.2% 14.8% 7.1% 9.4% 8.1% 6.7% 6.0%
Share 18.9% 21.9% 24.9% 34.7% 37.4% 39.9% 43.4% 48.3% 49.8% 51.8% 53.1% 53.8% 54.7%
TO TA L $4,698.3 $5,169.6 $5,364.2 $5,086.9 $5,737.6 $6,567.8 $7,395.0 $7,617.3 $7,912.2 $8,330.9 $8,780.2 $9,239.5 $9,636.7
Growth 13.1% 10.0% 3.8% -5.2% 12.8% 14.5% 12.6% 3.0% 3.9% 5.3% 5.4% 5.2% 4.3%

SE R B I A ( TOTAL – USD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $108.3 $92.7 $93.3 $98.0 $105.0 $110.6 $120.6 $122.8 $125.0 $127.3 $129.6 $131.9 $134.3
Growth 2.1% -14.4% 0.6% 5.0% 7.2% 5.3% 9.1% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 56.1% 54.4% 53.5% 54.2% 55.3% 56.6% 55.9% 55.9% 55.9% 55.9% 55.9% 55.9% 55.9%
RA D IO 10.1 8.4 7.9 7.8 7.8 7.8 9.3 9.4 9.6 9.8 10.0 10.1 10.3
Growth 0.0% -16.7% -5.3% -1.4% 0.0% 0.0% 18.6% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 5.2% 4.9% 4.6% 4.3% 4.1% 4.0% 4.3% 4.3% 4.3% 4.3% 4.3% 4.3% 4.3%
N EWS PAP ERS 27.9 23.5 23.9 23.5 22.3 20.1 15.6 15.9 16.2 16.5 16.8 17.1 17.4
Growth -7.4% -16.0% 1.9% -1.9% -4.8% -10.0% -22.2% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 14.5% 13.8% 13.7% 13.0% 11.8% 10.3% 7.2% 7.2% 7.2% 7.2% 7.2% 7.2% 7.2%
MA GA ZINE S 12.3 11.2 11.2 11.2 11.2 10.1 7.8 8.0 8.1 8.2 8.4 8.5 8.7
Growth -15.4% -9.1% 0.0% 0.0% 0.0% -10.0% -22.2% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 6.4% 6.6% 6.4% 6.2% 5.9% 5.1% 3.6% 3.6% 3.6% 3.6% 3.6% 3.6% 3.6%
O U TD OOR + CINE MA 21.2 19.0 20.1 20.1 20.1 20.1 25.7 26.2 26.6 27.1 27.6 28.1 28.6
Growth -5.0% -10.5% 5.9% 0.0% 0.0% 0.0% 27.8% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 11.0% 11.1% 11.5% 11.1% 10.6% 10.3% 11.9% 11.9% 11.9% 11.9% 11.9% 11.9% 11.9%
IN TER N ET 13.4 15.6 17.9 20.1 23.5 26.8 36.9 37.5 38.2 38.9 39.6 40.3 41.0
Growth 50.0% 16.7% 14.3% 12.5% 16.7% 14.3% 37.5% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Share 6.9% 9.2% 10.3% 11.1% 12.4% 13.7% 17.1% 17.1% 17.1% 17.1% 17.1% 17.1% 17.1%
TO TA L $193.2 $170.3 $174.2 $180.6 $189.9 $195.5 $215.9 $219.8 $223.7 $227.8 $231.9 $236.0 $240.3
Growth 0.6% -11.8% 2.3% 3.7% 5.1% 2.9% 10.5% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%

SI N GAPORE ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $490.9 $519.1 $482.7 $458.6 $549.9 $497.5 $500.5 $308.1 $261.9 $248.8 $236.4 $224.5 $213.3
Growth -3.5% 5.7% -7.0% -5.0% 19.9% -9.5% 0.6% -38.4% -15.0% -5.0% -5.0% -5.0% -5.0%
Share 30.8% 30.6% 28.5% 26.1% 28.1% 28.6% 28.7% 20.1% 17.3% 16.2% 15.2% 14.4% 13.7%
RA D IO 123.8 133.1 137.1 144.0 157.7 134.9 150.4 145.9 138.6 134.5 130.5 126.5 122.7
Growth 1.9% 7.5% 3.0% 5.0% 9.6% -14.5% 11.5% -2.9% -5.0% -3.0% -3.0% -3.0% -3.0%
Share 7.8% 7.8% 8.1% 8.2% 8.1% 7.8% 8.6% 9.5% 9.1% 8.7% 8.4% 8.1% 7.9%
N EWS PAP ERS 597.0 607.7 577.3 548.4 597.8 429.7 356.7 314.0 282.6 254.3 228.9 206.0 185.4
Growth 1.9% 1.8% -5.0% -5.0% 9.0% -28.1% -17.0% -12.0% -10.0% -10.0% -10.0% -10.0% -10.0%
Share 37.5% 35.8% 34.0% 31.2% 30.6% 24.7% 20.5% 20.5% 18.6% 16.5% 14.7% 13.2% 11.9%
MA GA ZINE S 80.3 70.8 60.1 57.5 64.1 56.0 42.0 28.0 25.2 22.7 20.4 18.4 16.5
Growth -0.6% -11.9% -15.0% -4.4% 11.5% -12.6% -25.0% -33.3% -10.0% -10.0% -10.0% -10.0% -10.0%
Share 5.0% 4.2% 3.5% 3.3% 3.3% 3.2% 2.4% 1.8% 1.7% 1.5% 1.3% 1.2% 1.1%
O U TD OOR + CINEMA 172.5 202.4 218.1 252.7 215.9 176.6 203.2 183.1 186.7 196.1 205.9 216.2 227.0
Growth 20.7% 17.3% 7.8% 15.8% -14.6% -18.2% 15.0% -9.9% 2.0% 5.0% 5.0% 5.0% 5.0%
Share 10.8% 11.9% 12.9% 14.4% 11.0% 10.2% 11.6% 12.0% 12.3% 12.7% 13.2% 13.8% 14.6%
IN TER N ET 129.0 165.8 221.1 294.8 368.5 442.2 491.4 552.8 621.9 684.1 735.4 772.2 791.5
Growth 29.8% 28.6% 33.3% 33.3% 25.0% 20.0% 11.1% 12.5% 12.5% 10.0% 7.5% 5.0% 2.5%
Share 8.1% 9.8% 13.0% 16.8% 18.9% 25.5% 28.2% 36.1% 41.0% 44.4% 47.2% 49.4% 50.9%
TO TA L $1,593.6 $1,698.8 $1,696.5 $1,756.0 $1,953.9 $1,737.0 $1,744.2 $1,531.9 $1,517.0 $1,540.5 $1,557.4 $1,563.8 $1,556.5
Growth 3.5% 6.6% -0.1% 3.5% 11.3% -11.1% 0.4% -12.2% -1.0% 1.5% 1.1% 0.4% -0.5%

35 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

SLO VAK REPUBLIC (TO TA L – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $131.4 $124.0 $129.5 $128.3 $166.6 $172.0 $172.0 $176.5 $179.8 $182.3 $180.5 $178.7 $176.9
Growth -2.4% -5.7% 4.5% -0.9% 29.8% 3.2% 0.0% 2.6% 1.9% 1.4% -1.0% -1.0% -1.0%
Share 45.6% 42.4% 43.7% 40.3% 45.0% 44.7% 43.6% 43.3% 43.3% 43.0% 42.7% 42.4% 42.1%
RA D IO 20.0 18.4 17.9 15.7 16.7 17.9 17.9 18.4 19.0 19.5 19.7 19.7 19.9
Growth -10.6% -7.7% -3.0% -12.0% 6.3% 6.9% 0.0% 3.1% 3.0% 2.9% 0.6% 0.0% 1.1%
Share 6.9% 6.3% 6.0% 4.9% 4.5% 4.6% 4.5% 4.5% 4.6% 4.6% 4.7% 4.7% 4.7%
N EWS PAP ERS 22.3 19.0 15.6 15.4 14.6 13.9 13.6 13.1 12.3 11.6 11.2 11.2 11.2
Growth -11.1% -15.0% -17.6% -1.5% -5.0% -5.0% -2.4% -3.2% -6.1% -6.1% -3.7% 0.0% 0.0%
Share 7.8% 6.5% 5.3% 4.8% 3.9% 3.6% 3.4% 3.2% 3.0% 2.7% 2.6% 2.7% 2.7%
MA GA ZINE S 35.7 33.5 27.9 28.3 27.4 26.7 25.4 24.8 23.4 22.0 21.8 21.6 21.6
Growth -10.4% -6.3% -16.7% 1.3% -3.0% -2.5% -5.0% -2.3% -5.8% -5.8% -1.2% -0.8% -0.3%
Share 12.4% 11.5% 9.4% 8.9% 7.4% 7.0% 6.4% 6.1% 5.6% 5.2% 5.2% 5.1% 5.1%
O U TD OOR + CINEMA 32.9 30.7 29.8 37.3 36.8 35.9 36.8 38.0 38.0 38.0 38.8 38.3 38.0
Growth -6.2% -6.6% -3.1% 25.2% -1.3% -2.3% 2.4% 3.1% 0.0% 0.0% 2.1% -1.2% -0.9%
Share 11.4% 10.5% 10.0% 11.7% 9.9% 9.3% 9.3% 9.3% 9.1% 9.0% 9.2% 9.1% 9.0%
IN TER N ET 45.8 67.0 76.0 93.6 108.3 118.4 128.4 136.3 143.0 150.0 150.8 151.9 153.0
Growth 14.8% 46.3% 13.3% 23.2% 15.8% 9.3% 8.5% 6.1% 4.9% 4.9% 0.5% 0.7% 0.7%
Share 15.9% 22.9% 25.6% 29.4% 29.2% 30.8% 32.6% 33.5% 34.4% 35.4% 35.7% 36.1% 36.4%
TO TA L $288.2 $292.6 $296.7 $318.6 $370.6 $384.9 $394.1 $407.1 $415.5 $423.5 $422.6 $421.3 $420.5
Growth -2.9% 1.6% 1.4% 7.4% 16.3% 3.9% 2.4% 3.3% 2.1% 1.9% -0.2% -0.3% -0.2%

SLO VENIA ( TOTAL – U SD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $67.0 $63.7 $60.3 $59.2 $61.4 $63.3 $65.2 $69.9 $73.6 $77.5 $81.6 $86.0 $90.5
Growth -15.5% -5.0% -5.3% -1.9% 3.8% 3.0% 3.0% 7.3% 5.3% 5.3% 5.3% 5.3% 5.3%
Share 43.9% 45.7% 46.1% 45.5% 44.7% 43.3% 42.4% 43.6% 43.5% 43.4% 43.4% 43.3% 43.1%
RA D IO 12.3 11.2 10.1 11.2 12.3 13.4 14.5 14.8 15.6 16.4 17.3 18.2 19.2
Growth -15.4% -9.1% -10.0% 11.1% 10.0% 9.1% 8.3% 2.0% 5.3% 5.3% 5.3% 5.3% 5.3%
Share 8.1% 8.0% 7.7% 8.6% 8.9% 9.2% 9.5% 9.2% 9.2% 9.2% 9.2% 9.2% 9.1%
N EWS PAP ERS 23.5 21.2 18.4 17.9 17.9 17.9 17.9 19.5 20.6 21.3 22.1 22.7 22.5
Growth -30.0% -9.5% -13.2% -3.0% 0.0% 0.0% 0.0% 9.2% 5.3% 3.7% 3.6% 2.8% -0.7%
Share 15.4% 15.2% 14.1% 13.7% 13.0% 12.2% 11.6% 12.2% 12.1% 11.9% 11.7% 11.4% 10.7%
MA GA ZINE S 12.3 8.9 7.3 6.7 6.7 6.7 6.7 6.8 6.5 6.4 6.4 6.5 6.3
Growth -26.7% -27.3% -18.8% -7.7% 0.0% 0.0% 0.0% 1.6% -4.1% -2.4% -0.2% 2.4% -3.7%
Share 8.1% 6.4% 5.6% 5.1% 4.9% 4.6% 4.4% 4.2% 3.9% 3.6% 3.4% 3.3% 3.0%
O U TD OOR + CINEMA 17.9 14.0 13.4 12.8 14.0 15.6 15.6 17.3 18.2 19.2 20.2 21.2 22.4
Growth -46.7% -21.9% -4.0% -4.2% 8.7% 12.0% 0.0% 10.5% 5.3% 5.3% 5.3% 5.3% 5.3%
Share 11.7% 10.0% 10.2% 9.9% 10.2% 10.7% 10.2% 10.8% 10.8% 10.7% 10.7% 10.7% 10.7%
IN TER N ET 19.7 20.2 21.3 22.5 25.2 29.1 33.7 32.1 34.7 37.8 40.7 43.9 49.0
Growth 16.6% 2.8% 5.5% 5.2% 12.2% 15.5% 15.7% -4.5% 8.1% 8.7% 7.9% 7.9% 11.5%
Share 12.9% 14.5% 16.3% 17.2% 18.3% 19.9% 21.9% 20.0% 20.5% 21.1% 21.6% 22.1% 23.4%
TO TA L $152.6 $139.2 $130.8 $130.2 $137.4 $146.0 $153.6 $160.5 $169.2 $178.5 $188.3 $198.5 $209.9
Growth -21.5% -8.8% -6.0% -0.4% 5.5% 6.2% 5.2% 4.5% 5.5% 5.5% 5.5% 5.5% 5.7%

SO U T H AFRICA ( TOTA L – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $300.8 $333.3 $370.3 $418.9 $414.8 $395.0 $393.0 $385.1 $382.5 $386.1 $390.4 $398.5 $405.3
Growth 10.1% 10.8% 11.1% 13.1% -1.0% -4.8% -0.5% -2.0% -0.7% 0.9% 1.1% 2.1% 1.7%
Share 32.6% 33.5% 34.7% 36.9% 35.7% 32.3% 30.8% 30.6% 29.8% 29.4% 29.0% 28.8% 28.5%
RA D IO 161.3 178.8 194.2 172.9 177.8 180.8 189.0 179.5 185.4 190.6 195.2 200.5 205.9
Growth 15.2% 10.8% 8.6% -11.0% 2.8% 1.7% 4.5% -5.0% 3.3% 2.8% 2.4% 2.7% 2.7%
Share 17.5% 18.0% 18.2% 15.2% 15.3% 14.8% 14.8% 14.3% 14.5% 14.5% 14.5% 14.5% 14.5%
N EWS PAP ERS 138.3 139.3 137.4 130.0 110.4 92.2 83.9 75.5 76.3 75.5 74.9 74.4 75.1
Growth 2.9% 0.7% -1.4% -5.4% -15.1% -16.5% -9.0% -10.0% 1.0% -0.9% -0.9% -0.7% 1.0%
Share 15.0% 14.0% 12.9% 11.4% 9.5% 7.5% 6.6% 6.0% 5.9% 5.8% 5.6% 5.4% 5.3%
MA GA ZINE S 101.1 99.2 88.2 79.6 76.7 71.2 62.6 55.2 55.1 54.0 56.5 58.0 57.0
Growth -7.0% -1.8% -11.1% -9.7% -3.7% -7.2% -12.0% -11.9% 0.0% -2.1% 4.7% 2.7% -1.8%
Share 11.0% 10.0% 8.3% 7.0% 6.6% 5.8% 4.9% 4.4% 4.3% 4.1% 4.2% 4.2% 4.0%
O U TD OOR + CINE MA 111.0 108.7 107.0 101.7 115.0 117.2 114.3 110.9 113.8 117.5 122.7 127.3 130.8
Growth 8.3% -2.1% -1.6% -4.9% 13.1% 1.9% -2.5% -3.0% 2.6% 3.3% 4.5% 3.7% 2.7%
Share 12.0% 10.9% 10.0% 9.0% 9.9% 9.6% 8.9% 8.8% 8.9% 8.9% 9.1% 9.2% 9.2%
IN TER N ET 110.3 135.6 170.3 232.6 267.2 365.3 434.7 451.2 469.3 489.0 505.5 524.1 548.4
Growth 10.3% 23.0% 25.6% 36.5% 14.9% 36.7% 19.0% 3.8% 4.0% 4.2% 3.4% 3.7% 4.6%
Share 12.0% 13.6% 16.0% 20.5% 23.0% 29.9% 34.0% 35.9% 36.6% 37.2% 37.6% 37.9% 38.6%
TO TA L $922.7 $995.0 $1,067.4 $1,135.7 $1,161.8 $1,221.7 $1,277.5 $1,257.4 $1,282.3 $1,312.7 $1,345.3 $1,382.8 $1,422.5
Growth 7.5% 7.8% 7.3% 6.4% 2.3% 5.2% 4.6% -1.6% 2.0% 2.4% 2.5% 2.8% 2.9%

SO U T H KOREA ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $2,429.9 $2,395.7 $2,387.1 $2,791.7 $2,588.8 $2,496.0 $2,566.3 $2,626.2 $2,699.6 $2,726.2 $2,801.5 $2,849.3 $2,908.7
Growth 0.8% -1.4% -0.4% 17.0% -7.3% -3.6% 2.8% 2.3% 2.8% 1.0% 2.8% 1.7% 2.1%
Share 36.3% 36.3% 36.0% 41.1% 37.9% 36.4% 36.7% 37.0% 37.2% 37.1% 37.2% 37.2% 37.3%
RA D IO 176.0 167.6 160.5 221.5 226.9 207.9 209.0 204.1 201.0 189.4 178.7 170.2 161.9
Growth -9.4% -4.7% -4.3% 38.0% 2.5% -8.4% 0.5% -2.3% -1.5% -5.8% -5.7% -4.8% -4.9%
Share 2.6% 2.5% 2.4% 3.3% 3.3% 3.0% 3.0% 2.9% 2.8% 2.6% 2.4% 2.2% 2.1%
N EWS PAP ERS 1,206.4 1,126.5 1,075.7 1,094.7 1,072.9 1,025.1 999.1 976.4 957.3 925.4 902.1 857.4 805.9
Growth -3.2% -6.6% -4.5% 1.8% -2.0% -4.5% -2.5% -2.3% -2.0% -3.3% -2.5% -5.0% -6.0%
Share 18.0% 17.1% 16.2% 16.1% 15.7% 14.9% 14.3% 13.8% 13.2% 12.6% 12.0% 11.2% 10.3%
MA GA ZINE S 370.2 339.1 324.5 303.9 275.7 250.7 237.0 226.9 217.4 210.0 200.1 192.2 188.3
Growth -3.1% -8.4% -4.3% -6.4% -9.3% -9.0% -5.5% -4.3% -4.2% -3.4% -4.7% -3.9% -2.0%
Share 5.5% 5.1% 4.9% 4.5% 4.0% 3.7% 3.4% 3.2% 3.0% 2.9% 2.7% 2.5% 2.4%
O U TD OOR + CINEMA 669.1 683.8 812.1 705.9 932.9 1,084.1 1,127.4 1,164.9 1,206.7 1,251.2 1,301.8 1,350.1 1,403.6
Growth 21.9% 2.2% 18.8% -13.1% 32.2% 16.2% 4.0% 3.3% 3.6% 3.7% 4.0% 3.7% 4.0%
Share 10.0% 10.4% 12.2% 10.4% 13.7% 15.8% 16.1% 16.4% 16.6% 17.0% 17.3% 17.6% 18.0%
IN TER N ET 1,843.4 1,888.6 1,870.1 1,682.3 1,730.6 1,796.4 1,845.5 1,900.2 1,967.9 2,050.2 2,145.3 2,230.5 2,328.7
Growth 7.9% 2.5% -1.0% -10.0% 2.9% 3.8% 2.7% 3.0% 3.6% 4.2% 4.6% 4.0% 4.4%
Share 27.5% 28.6% 28.2% 24.7% 25.3% 26.2% 26.4% 26.8% 27.1% 27.9% 28.5% 29.2% 29.9%
TO TA L $6,695.1 $6,601.3 $6,629.9 $6,799.9 $6,827.8 $6,860.2 $6,984.3 $7,098.7 $7,249.9 $7,352.4 $7,529.6 $7,649.7 $7,797.2
Growth 3.2% -1.4% 0.4% 2.6% 0.4% 0.5% 1.8% 1.6% 2.1% 1.4% 2.4% 1.6% 1.9%

36 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

SPAIN ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $2,027.6 $1,902.6 $2,111.5 $2,246.5 $2,370.0 $2,393.9 $2,376.0 $2,280.9 $2,201.1 $2,135.1 $2,103.0 $2,061.0 $2,040.4
Growth -18.9% -6.2% 11.0% 6.4% 5.5% 1.0% -0.8% -4.0% -3.5% -3.0% -1.5% -2.0% -1.0%
Share 39.2% 40.0% 40.5% 40.1% 40.5% 40.0% 38.6% 36.5% 34.6% 32.9% 31.6% 30.3% 29.3%
RA D IO 506.5 450.8 469.3 507.5 511.6 520.3 537.4 553.5 564.6 575.8 593.1 605.0 617.1
Growth -13.6% -11.0% 4.1% 8.1% 0.8% 1.7% 3.3% 3.0% 2.0% 2.0% 3.0% 2.0% 2.0%
Share 9.8% 9.5% 9.0% 9.1% 8.7% 8.7% 8.7% 8.9% 8.9% 8.9% 8.9% 8.9% 8.9%
N EWS PAP ERS 855.9 740.4 733.1 736.0 689.6 633.8 596.2 557.5 526.8 500.5 477.9 458.8 442.8
Growth -20.8% -13.5% -1.0% 0.4% -6.3% -8.1% -5.9% -6.5% -5.5% -5.0% -4.5% -4.0% -3.5%
Share 16.6% 15.6% 14.1% 13.1% 11.8% 10.6% 9.7% 8.9% 8.3% 7.7% 7.2% 6.7% 6.4%
MA GA ZINE S 408.5 326.8 326.0 327.3 319.8 302.8 286.7 264.3 246.2 231.7 220.3 211.5 205.0
Growth -18.4% -20.0% -0.2% 0.4% -2.3% -5.3% -5.3% -7.8% -6.8% -5.9% -4.9% -4.0% -3.1%
Share 7.9% 6.9% 6.3% 5.8% 5.5% 5.1% 4.7% 4.2% 3.9% 3.6% 3.3% 3.1% 2.9%
O U TD OOR + CINEMA 389.6 337.5 369.6 390.3 391.9 402.4 413.9 426.8 439.2 451.9 465.1 478.6 492.5
Growth -18.6% -13.4% 9.5% 5.6% 0.4% 2.7% 2.9% 3.1% 2.9% 2.9% 2.9% 2.9% 2.9%
Share 7.5% 7.1% 7.1% 7.0% 6.7% 6.7% 6.7% 6.8% 6.9% 7.0% 7.0% 7.0% 7.1%
IN TER N ET 983.5 1,001.1 1,202.1 1,396.0 1,572.4 1,729.1 1,947.1 2,161.2 2,377.4 2,591.3 2,798.6 2,994.5 3,174.2
Growth -2.1% 1.8% 20.1% 16.1% 12.6% 10.0% 12.6% 11.0% 10.0% 9.0% 8.0% 7.0% 6.0%
Share 19.0% 21.0% 23.1% 24.9% 26.9% 28.9% 31.6% 34.6% 37.4% 40.0% 42.0% 44.0% 45.5%
TO TA L $5,171.6 $4,759.3 $5,211.5 $5,603.5 $5,855.4 $5,982.4 $6,157.3 $6,244.1 $6,355.2 $6,486.3 $6,658.1 $6,809.4 $6,971.9
Growth -15.9% -8.0% 9.5% 7.5% 4.5% 2.2% 2.9% 1.4% 1.8% 2.1% 2.6% 2.3% 2.4%

SRI LANKA ( TOTAL – U SD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $47.4 $50.6 $56.0 $67.3 $78.6 $84.1 $96.0 $109.5 $108.2 $112.2 $116.4 $121.4 $124.7
Growth ------ 6.6% 10.7% 20.2% 16.7% 7.0% 14.2% 14.2% -1.3% 3.7% 3.8% 4.3% 2.7%
Share 45.8% 44.9% 44.5% 46.8% 48.0% 48.0% 49.3% 50.5% 48.5% 47.6% 46.8% 46.3% 45.2%
RA D IO 18.8 21.1 24.1 26.5 30.5 32.4 36.0 38.6 40.6 41.4 42.5 41.4 40.3
Growth ------ 12.5% 14.2% 10.0% 15.0% 6.3% 11.1% 7.3% 5.0% 2.0% 2.7% -2.6% -2.7%
Share 18.1% 18.8% 19.2% 18.5% 18.6% 18.5% 18.5% 17.8% 18.2% 17.6% 17.1% 15.8% 14.6%
N EWS PAP ERS 21.4 23.7 25.5 28.1 30.6 32.1 32.4 33.1 33.7 34.2 34.8 34.8 33.1
Growth ------ 10.6% 7.9% 10.0% 9.0% 4.8% 1.1% 2.1% 1.7% 1.6% 1.6% 0.0% -4.8%
Share 20.6% 21.0% 20.3% 19.5% 18.7% 18.3% 16.7% 15.3% 15.1% 14.5% 14.0% 13.3% 12.0%
MA GA ZINE S 0.7 0.7 0.8 0.8 0.9 0.9 1.0 1.0 1.1 1.2 1.2 1.2 1.3
Growth ------ 10.6% 7.9% 7.0% 5.3% 5.4% 6.0% 5.4% 5.3% 5.0% 4.8% 2.3% 2.2%
Share 0.6% 0.7% 0.6% 0.6% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
O U TD OOR + CINEMA 11.7 12.4 14.8 15.5 16.7 17.9 19.3 21.5 22.6 24.0 25.7 27.6 29.5
Growth ------ 5.3% 19.7% 4.5% 8.2% 6.9% 7.9% 11.3% 5.4% 6.1% 6.9% 7.5% 7.0%
Share 11.3% 11.0% 11.8% 10.8% 10.2% 10.2% 9.9% 9.9% 10.1% 10.2% 10.3% 10.5% 10.7%
IN TER N ET 3.6 4.1 4.7 5.5 6.3 7.7 9.9 13.0 17.1 22.6 28.1 35.9 46.9
Growth ------ 15.4% 13.3% 17.6% 15.0% 20.9% 29.4% 30.6% 31.9% 32.3% 24.4% 27.5% 30.8%
Share 3.5% 3.7% 3.7% 3.8% 3.9% 4.4% 5.1% 6.0% 7.7% 9.6% 11.3% 13.7% 17.0%
TO TA L $103.6 $112.6 $125.9 $143.7 $163.6 $175.0 $194.6 $216.8 $223.2 $235.6 $248.7 $262.3 $275.8
Growth ------ 8.7% 11.8% 14.2% 13.9% 7.0% 11.2% 11.4% 3.0% 5.5% 5.6% 5.4% 5.2%

SWE D EN ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $621.7 $623.3 $603.2 $574.5 $564.3 $574.1 $622.9 $617.8 $612.9 $603.4 $588.4 $594.3 $600.2
Growth 3.9% 0.3% -3.2% -4.8% -1.8% 1.7% 8.5% -0.8% -0.8% -1.6% -2.5% 1.0% 1.0%
Share 21.5% 21.8% 20.5% 18.8% 17.2% 16.1% 16.2% 15.5% 14.9% 14.5% 14.0% 14.0% 14.0%
RA D IO 70.2 63.6 73.8 79.8 90.1 103.0 112.5 108.8 111.4 112.5 113.6 114.7 115.9
Growth -11.4% -9.3% 15.9% 8.1% 12.9% 14.3% 9.2% -3.2% 2.3% 1.0% 1.0% 1.0% 1.0%
Share 2.4% 2.2% 2.5% 2.6% 2.8% 2.9% 2.9% 2.7% 2.7% 2.7% 2.7% 2.7% 2.7%
N EWS PAP E RS 977.3 865.9 796.5 706.9 637.0 563.2 504.6 434.3 385.2 353.7 336.2 339.6 343.0
Growth -9.8% -11.4% -8.0% -11.2% -9.9% -11.6% -10.4% -13.9% -11.3% -8.2% -4.9% 1.0% 1.0%
Share 33.7% 30.3% 27.1% 23.2% 19.4% 15.8% 13.1% 10.9% 9.4% 8.5% 8.0% 8.0% 8.0%
MA GA ZINE S 240.5 212.6 203.0 184.9 164.7 149.2 134.2 117.5 103.5 83.2 84.1 84.9 85.7
Growth -9.4% -11.6% -4.5% -8.9% -10.9% -9.4% -10.0% -12.5% -11.9% -19.6% 1.0% 1.0% 1.0%
Share 8.3% 7.4% 6.9% 6.1% 5.0% 4.2% 3.5% 3.0% 2.5% 2.0% 2.0% 2.0% 2.0%
O U TD OOR + CINEMA 128.1 118.7 134.4 144.5 166.9 189.8 224.6 241.2 252.7 262.1 264.8 267.4 270.1
Growth -5.7% -7.3% 13.2% 7.5% 15.5% 13.7% 18.4% 7.4% 4.8% 3.7% 1.0% 1.0% 1.0%
Share 4.4% 4.2% 4.6% 4.7% 5.1% 5.3% 5.8% 6.1% 6.1% 6.3% 6.3% 6.3% 6.3%
IN TER N ET 858.1 974.0 1,128.8 1,357.4 1,652.2 1,992.2 2,241.8 2,457.5 2,654.2 2,746.3 2,815.8 2,843.9 2,872.4
Growth 13.9% 13.5% 15.9% 20.2% 21.7% 20.6% 12.5% 9.6% 8.0% 3.5% 2.5% 1.0% 1.0%
Share 29.6% 34.1% 38.4% 44.5% 50.4% 55.8% 58.4% 61.8% 64.4% 66.0% 67.0% 67.0% 67.0%
TO TA L $2,895.9 $2,858.2 $2,939.7 $3,047.9 $3,275.2 $3,571.4 $3,840.6 $3,977.1 $4,119.9 $4,161.1 $4,202.7 $4,244.7 $4,287.1
Growth -0.6% -1.3% 2.9% 3.7% 7.5% 9.0% 7.5% 3.6% 3.6% 1.0% 1.0% 1.0% 1.0%

SWIT ZERLAND ( TOTAL – U SD M M )

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $736.7 $760.0 $783.4 $760.0 $786.4 $806.3 $777.3 $701.5 $660.0 $637.0 $627.6 $624.5 $621.4
Growth -2.6% 3.2% 3.1% -3.0% 3.5% 2.5% -3.6% -9.7% -5.9% -3.5% -1.5% -0.5% -0.5%
Share 18.8% 19.8% 21.1% 20.2% 21.1% 20.8% 21.0% 20.6% 20.4% 20.3% 20.2% 20.1% 20.0%
RA D IO 149.2 159.3 152.2 145.1 149.2 137.9 146.1 107.2 101.9 103.3 99.2 99.2 99.2
Growth 5.8% 6.8% -4.5% -4.7% 2.8% -7.5% 5.9% -26.6% -5.0% 1.4% -4.0% 0.0% 0.0%
Share 3.8% 4.2% 4.1% 3.9% 4.0% 3.6% 4.0% 3.2% 3.2% 3.3% 3.2% 3.2% 3.2%
N EWS PAP ERS 1,171.0 1,047.2 992.4 911.2 794.5 796.4 634.8 519.4 483.8 453.6 442.9 439.8 439.8
Growth -13.7% -10.6% -5.2% -8.2% -12.8% 0.2% -20.3% -18.2% -6.9% -6.2% -2.4% -0.7% 0.0%
Share 29.9% 27.3% 26.7% 24.2% 21.3% 20.6% 17.2% 15.3% 15.0% 14.5% 14.3% 14.2% 14.2%
MA GA ZINE S 638.3 591.6 565.2 545.9 487.1 476.9 389.1 324.0 307.8 298.5 295.5 295.5 295.5
Growth -5.7% -7.3% -4.5% -3.4% -10.8% -2.1% -18.4% -16.7% -5.0% -3.0% -1.0% 0.0% 0.0%
Share 16.3% 15.4% 15.2% 14.5% 13.0% 12.3% 10.5% 9.5% 9.5% 9.5% 9.5% 9.5% 9.5%
O U TD OOR + CINE MA 605.8 599.7 460.7 490.1 485.0 489.8 501.3 516.5 490.6 475.9 471.2 471.2 471.2
Growth 1.7% -1.0% -23.2% 6.4% -1.0% 1.0% 2.3% 3.0% -5.0% -3.0% -1.0% 0.0% 0.0%
Share 15.5% 15.6% 12.4% 13.0% 13.0% 12.7% 13.6% 15.2% 15.2% 15.2% 15.2% 15.2% 15.2%
IN TER N ET 614.2 674.4 767.5 911.0 1,033.0 1,162.2 1,244.7 1,229.1 1,183.8 1,162.6 1,163.4 1,169.6 1,172.7
Growth 11.1% 9.8% 13.8% 18.7% 13.4% 12.5% 7.1% -1.2% -3.7% -1.8% 0.1% 0.5% 0.3%
Share 15.7% 17.6% 20.6% 24.2% 27.7% 30.0% 33.7% 36.2% 36.7% 37.1% 37.5% 37.7% 37.8%
TO TA L $3,915.1 $3,832.2 $3,721.3 $3,763.3 $3,735.2 $3,869.6 $3,693.2 $3,397.7 $3,227.8 $3,131.0 $3,099.7 $3,099.7 $3,099.7
Growth -4.0% -2.1% -2.9% 1.1% -0.7% 3.6% -4.6% -8.0% -5.0% -3.0% -1.0% 0.0% 0.0%

37 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

TA I WAN ( TOTAL – USD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $789.4 $814.1 $806.8 $792.9 $739.4 $700.9 $678.2 $668.3 $656.0 $641.1 $623.4 $608.4 $590.7
Growth -7.7% 3.1% -0.9% -1.7% -6.7% -5.2% -3.2% -1.5% -1.8% -2.3% -2.8% -2.4% -2.9%
Share 41.2% 41.2% 40.1% 39.4% 35.9% 32.2% 28.9% 27.2% 25.5% 23.8% 22.1% 20.6% 19.1%
RA D IO 116.7 102.4 102.4 89.6 68.3 57.1 61.5 57.0 52.0 46.3 40.1 33.1 25.4
Growth -14.1% -12.2% 0.0% -12.5% -23.8% -16.4% 7.7% -7.3% -8.8% -10.8% -13.5% -17.4% -23.3%
Share 6.1% 5.2% 5.1% 4.5% 3.3% 2.6% 2.6% 2.3% 2.0% 1.7% 1.4% 1.1% 0.8%
N EWS PAP ERS 334.3 301.9 272.4 219.3 171.7 140.2 121.4 117.3 112.6 104.4 95.2 84.9 73.5
Growth -11.6% -9.7% -9.8% -19.5% -21.7% -18.4% -13.4% -3.4% -4.1% -7.3% -8.8% -10.8% -13.5%
Share 17.5% 15.3% 13.5% 10.9% 8.3% 6.4% 5.2% 4.8% 4.4% 3.9% 3.4% 2.9% 2.4%
MA GA ZINE S 175.3 173.7 159.0 135.3 102.2 76.1 65.1 58.4 50.8 45.1 38.8 31.8 24.0
Growth -5.9% -0.9% -8.5% -14.9% -24.4% -25.6% -14.4% -10.4% -12.9% -11.2% -14.0% -18.1% -24.4%
Share 9.2% 8.8% 7.9% 6.7% 5.0% 3.5% 2.8% 2.4% 2.0% 1.7% 1.4% 1.1% 0.8%
O U TD OOR + CINEMA 117.9 136.8 140.7 139.3 127.0 119.5 139.5 146.1 152.9 160.1 167.6 175.5 183.8
Growth -2.4% 16.1% 2.9% -1.0% -8.8% -5.9% 16.8% 4.7% 4.7% 4.7% 4.7% 4.7% 4.7%
Share 6.2% 6.9% 7.0% 6.9% 6.2% 5.5% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% 6.0%
IN TER N ET 380.7 448.9 530.8 635.0 848.9 1,086.0 1,278.6 1,407.4 1,545.5 1,693.5 1,851.9 2,015.7 2,190.7
Growth 13.6% 17.9% 18.3% 19.6% 33.7% 27.9% 17.7% 10.1% 9.8% 9.6% 9.4% 8.8% 8.7%
Share 19.9% 22.7% 26.4% 31.6% 41.3% 49.8% 54.5% 57.3% 60.1% 62.9% 65.7% 68.3% 70.9%
TO TA L $1,914.2 $1,977.7 $2,012.1 $2,011.4 $2,057.5 $2,179.6 $2,344.3 $2,454.4 $2,569.8 $2,690.6 $2,817.0 $2,949.4 $3,088.1
Growth -4.9% 3.3% 1.7% 0.0% 2.3% 5.9% 7.6% 4.7% 4.7% 4.7% 4.7% 4.7% 4.7%

T H A I LAND ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $1,806.0 $2,072.1 $2,067.2 $2,198.0 $1,860.7 $1,667.7 $1,798.0 $1,757.0 $1,837.9 $1,856.7 $1,875.8 $1,894.5 $1,921.3
Growth 9.4% 14.7% -0.2% 6.3% -15.3% -10.4% 7.8% -2.3% 4.6% 1.0% 1.0% 1.0% 1.4%
Share 56.8% 59.6% 61.0% 62.1% 58.7% 56.6% 59.6% 58.2% 58.5% 57.1% 55.9% 54.6% 53.5%
RA D IO 153.8 153.5 138.9 148.9 138.8 111.1 106.7 101.4 94.3 97.5 100.7 104.1 89.8
Growth 6.0% -0.2% -9.5% 7.2% -6.7% -20.0% -3.9% -5.0% -7.1% 3.5% 3.2% 3.4% -13.8%
Share 4.8% 4.4% 4.1% 4.2% 4.4% 3.8% 3.5% 3.4% 3.0% 3.0% 3.0% 3.0% 2.5%
N EWS PAP E RS 564.8 584.6 517.7 492.9 396.6 317.3 171.9 137.5 94.3 81.3 77.2 79.8 79.0
Growth 3.5% 3.5% -11.5% -4.8% -19.5% -20.0% -45.8% -20.0% -31.5% -13.8% -5.1% 3.4% -1.0%
Share 17.8% 16.8% 15.3% 13.9% 12.5% 10.8% 5.7% 4.6% 3.0% 2.5% 2.3% 2.3% 2.2%
MA GA ZINE S 160.5 156.5 138.3 120.7 84.8 55.1 34.5 25.9 31.4 32.5 33.6 34.7 35.9
Growth -5.9% -2.5% -11.7% -12.7% -29.8% -35.0% -37.4% -25.0% 21.5% 3.5% 3.2% 3.4% 3.5%
Share 5.0% 4.5% 4.1% 3.4% 2.7% 1.9% 1.1% 0.9% 1.0% 1.0% 1.0% 1.0% 1.0%
O U TD OOR + CINEMA 436.2 398.0 363.1 363.2 439.5 492.4 496.6 520.3 540.4 569.0 604.0 641.9 685.9
Growth 16.5% -8.8% -8.8% 0.0% 21.0% 12.1% 0.8% 4.8% 3.9% 5.3% 6.1% 6.3% 6.9%
Share 13.7% 11.4% 10.7% 10.3% 13.9% 16.7% 16.5% 17.2% 17.2% 17.5% 18.0% 18.5% 19.1%
IN TER N ET 58.7 112.6 162.1 214.4 251.3 302.0 407.0 478.8 543.5 614.6 664.4 714.8 779.3
Growth 45.8% 91.9% 43.9% 32.2% 17.2% 20.2% 34.7% 17.6% 13.5% 13.1% 8.1% 7.6% 9.0%
Share 1.8% 3.2% 4.8% 6.1% 7.9% 10.3% 13.5% 15.8% 17.3% 18.9% 19.8% 20.6% 21.7%
TO TA L $3,180.1 $3,477.4 $3,387.3 $3,538.0 $3,171.8 $2,945.7 $3,014.6 $3,020.8 $3,141.7 $3,251.6 $3,355.7 $3,469.8 $3,591.2
Growth 8.7% 9.3% -2.6% 4.4% -10.4% -7.1% 2.3% 0.2% 4.0% 3.5% 3.2% 3.4% 3.5%

T U RK EY ( TOTAL – US D M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $456.7 $509.7 $534.9 $573.1 $644.8 $672.0 $679.2 $699.8 $763.5 $810.5 $860.8 $914.6 $972.2
Growth 6.5% 11.6% 5.0% 7.1% 12.5% 4.2% 1.1% 3.0% 9.1% 6.2% 6.2% 6.3% 6.3%
Share 48.6% 48.0% 48.2% 47.4% 48.2% 47.8% 47.0% 47.5% 47.5% 46.5% 45.5% 44.6% 43.5%
RA D IO 35.1 35.7 36.8 37.6 41.4 44.7 47.1 47.7 49.6 51.1 52.6 54.2 55.8
Growth 7.2% 1.7% 3.0% 2.2% 10.0% 8.0% 5.5% 1.1% 4.0% 3.0% 3.0% 3.0% 3.0%
Share 3.7% 3.4% 3.3% 3.1% 3.1% 3.2% 3.3% 3.2% 3.1% 2.9% 2.8% 2.6% 2.5%
N EWS PAP ERS 177.4 181.7 177.9 174.6 170.7 154.2 123.1 86.2 69.0 58.6 49.8 44.9 40.4
Growth 6.2% 2.5% -2.1% -1.9% -2.2% -9.7% -20.2% -30.0% -20.0% -15.0% -15.0% -10.0% -10.0%
Share 18.9% 17.1% 16.0% 14.4% 12.8% 11.0% 8.5% 5.9% 4.3% 3.4% 2.6% 2.2% 1.8%
MA GA ZINE S 17.8 17.9 18.1 17.4 16.7 14.5 13.7 12.2 11.2 10.6 10.1 9.6 9.1
Growth 7.1% 0.5% 1.0% -3.9% -4.0% -12.6% -6.0% -10.9% -8.0% -5.0% -5.0% -5.0% -5.0%
Share 1.9% 1.7% 1.6% 1.4% 1.2% 1.0% 0.9% 0.8% 0.7% 0.6% 0.5% 0.5% 0.4%
O U TD OOR + CINEMA 103.2 109.4 120.1 131.2 143.1 156.0 165.0 156.0 167.4 176.0 184.9 194.3 204.1
Growth 6.3% 6.0% 9.8% 9.3% 9.1% 9.0% 5.8% -5.5% 7.3% 5.1% 5.1% 5.1% 5.1%
Share 11.0% 10.3% 10.8% 10.9% 10.7% 11.1% 11.4% 10.6% 10.4% 10.1% 9.8% 9.5% 9.1%
IN TER N ET 150.4 208.4 222.1 275.1 320.2 364.0 418.1 471.5 546.9 634.5 732.2 834.7 951.5
Growth 50.3% 38.6% 6.5% 23.9% 16.4% 13.7% 14.8% 12.8% 16.0% 16.0% 15.4% 14.0% 14.0%
Share 16.0% 19.6% 20.0% 22.8% 24.0% 25.9% 28.9% 32.0% 34.0% 36.4% 38.7% 40.7% 42.6%
TO TA L $940.6 $1,062.8 $1,109.8 $1,209.0 $1,336.9 $1,405.4 $1,446.2 $1,473.4 $1,607.6 $1,741.3 $1,890.4 $2,052.2 $2,233.1
Growth 11.6% 13.0% 4.4% 8.9% 10.6% 5.1% 2.9% 1.9% 9.1% 8.3% 8.6% 8.6% 8.8%

U KR A INE ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $155.5 $178.5 $142.9 $167.4 $228.2 $294.7 $372.7 $463.5 $579.3 $695.2 $799.5 $911.4 $1,020.8
Growth 9.8% 14.8% -19.9% 17.1% 36.3% 29.1% 26.5% 24.3% 25.0% 20.0% 15.0% 14.0% 12.0%
Share 42.6% 40.9% 40.9% 51.8% 56.1% 52.2% 52.9% 52.3% 53.5% 54.4% 54.7% 55.1% 55.0%
RA D IO 12.5 13.7 11.7 12.2 16.1 19.3 23.2 28.8 34.5 39.7 44.0 48.4 52.8
Growth 15.1% 9.0% -14.7% 4.8% 31.6% 20.0% 20.4% 23.7% 20.0% 15.0% 11.0% 10.0% 9.0%
Share 3.4% 3.1% 3.3% 3.8% 4.0% 3.4% 3.3% 3.2% 3.2% 3.1% 3.0% 2.9% 2.8%
N EWS PAP ERS 85.1 80.3 53.7 42.5 37.0 43.6 51.8 59.3 65.8 71.8 76.1 79.1 82.3
Growth 8.6% -5.7% -33.1% -21.0% -12.9% 17.8% 18.9% 14.4% 11.0% 9.0% 6.0% 4.0% 4.0%
Share 23.3% 18.4% 15.4% 13.1% 9.1% 7.7% 7.4% 6.7% 6.1% 5.6% 5.2% 4.8% 4.4%
MA GA ZINE S 21.3 20.1 13.4 10.6 9.2 10.9 12.9 14.8 16.4 17.9 19.0 19.7 20.5
Growth 8.6% -5.7% -33.1% -21.0% -12.9% 17.8% 18.8% 14.3% 11.0% 9.0% 6.0% 4.0% 4.0%
Share 5.8% 4.6% 3.8% 3.3% 2.3% 1.9% 1.8% 1.7% 1.5% 1.4% 1.3% 1.2% 1.1%
O U TD OOR + CINEMA 63.2 61.9 42.6 39.3 51.3 109.8 142.4 168.0 193.2 218.3 240.1 261.7 285.2
Growth 28.9% -2.0% -31.2% -7.8% 30.5% 114.2% 29.7% 18.0% 15.0% 13.0% 10.0% 9.0% 9.0%
Share 17.3% 14.2% 12.2% 12.2% 12.6% 19.5% 20.2% 19.0% 17.9% 17.1% 16.4% 15.8% 15.4%
IN TER N ET 27.3 82.4 85.0 51.3 65.1 86.3 101.3 151.7 192.6 235.0 282.0 332.8 392.7
Growth 15.3% 201.5% 3.2% -39.7% 27.1% 32.4% 17.5% 49.7% 27.0% 22.0% 20.0% 18.0% 18.0%
Share 7.5% 18.9% 24.3% 15.9% 16.0% 15.3% 14.4% 17.1% 17.8% 18.4% 19.3% 20.1% 21.2%
TO TA L $365.0 $437.0 $349.4 $323.3 $407.0 $564.5 $704.4 $885.9 $1,081.9 $1,277.8 $1,460.6 $1,653.1 $1,854.3
Growth 12.9% 19.7% -20.0% -7.5% 25.9% 38.7% 24.8% 25.8% 22.1% 18.1% 14.3% 13.2% 12.2%

38 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

U N IT ED KINGDOM ( TO TA L – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $4,819.3 $5,069.4 $5,322.0 $5,875.2 $5,930.4 $5,793.1 $5,834.5 $5,700.3 $5,700.3 $5,755.6 $5,833.8 $5,903.1 $5,962.4
Growth 0.0% 5.2% 5.0% 10.4% 0.9% -2.3% 0.7% -2.3% 0.0% 1.0% 1.4% 1.2% 1.0%
Share 27.4% 27.5% 26.7% 27.3% 25.5% 23.5% 21.9% 19.9% 18.6% 17.8% 17.1% 16.4% 15.7%
RA D IO 599.9 595.2 641.8 649.8 680.5 709.1 735.1 736.3 751.0 760.0 767.7 774.0 778.7
Growth 2.8% -0.8% 7.8% 1.3% 4.7% 4.2% 3.7% 0.2% 2.0% 1.2% 1.0% 0.8% 0.6%
Share 3.4% 3.2% 3.2% 3.0% 2.9% 2.9% 2.8% 2.6% 2.5% 2.4% 2.3% 2.2% 2.1%
N EWS PAP ERS 3,232.3 3,012.3 2,887.3 2,640.2 2,327.2 2,116.4 1,953.6 1,781.4 1,650.9 1,548.0 1,428.8 1,291.8 1,173.3
Growth -8.3% -6.8% -4.1% -8.6% -11.9% -9.1% -7.7% -8.8% -7.3% -6.2% -7.7% -9.6% -9.2%
Share 18.4% 16.3% 14.5% 12.3% 10.0% 8.6% 7.3% 6.2% 5.4% 4.8% 4.2% 3.6% 3.1%
MA GA ZINE S 1,211.8 1,142.5 1,093.0 1,036.1 965.7 854.2 789.9 707.6 642.7 581.2 511.0 431.3 360.2
Growth -9.4% -5.7% -4.3% -5.2% -6.8% -11.5% -7.5% -10.4% -9.2% -9.6% -12.1% -15.6% -16.5%
Share 6.9% 6.2% 5.5% 4.8% 4.2% 3.5% 3.0% 2.5% 2.1% 1.8% 1.5% 1.2% 1.0%
O U TD OOR + CINEMA 1,218.2 1,205.5 1,244.2 1,324.1 1,400.1 1,422.0 1,490.7 1,608.3 1,687.4 1,756.0 1,827.0 1,900.6 1,976.7
Growth 10.0% -1.0% 3.2% 6.4% 5.7% 1.6% 4.8% 7.9% 4.9% 4.1% 4.0% 4.0% 4.0%
Share 6.9% 6.5% 6.3% 6.1% 6.0% 5.8% 5.6% 5.6% 5.5% 5.4% 5.4% 5.3% 5.2%
IN TER N ET 6,512.1 7,429.9 8,708.3 10,025.7 11,921.4 13,774.7 15,799.6 18,155.1 20,167.1 21,881.6 23,689.6 25,630.3 27,656.0
Growth 16.8% 14.1% 17.2% 15.1% 18.9% 15.5% 14.7% 14.9% 11.1% 8.5% 8.3% 8.2% 7.9%
Share 37.0% 40.3% 43.8% 46.5% 51.3% 55.8% 59.4% 63.3% 65.9% 67.8% 69.6% 71.3% 73.0%
TO TA L $17,593.5 $18,454.8 $19,896.6 $21,551.1 $23,225.3 $24,669.4 $26,603.3 $28,689.0 $30,599.4 $32,282.4 $34,057.9 $35,931.1 $37,907.3
Growth 3.8% 4.9% 7.8% 8.3% 7.8% 6.2% 7.8% 7.8% 6.7% 5.5% 5.5% 5.5% 5.5%

U N IT ED STATES ( TOTA L – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $63,235.8 $62,247.1 $66,117.4 $64,886.5 $69,723.1 $65,876.4 $69,858.8 $64,911.4 $68,219.9 $63,892.1 $67,311.9 $62,050.9 $65,722.1
Growth 8.3% -1.6% 6.2% -1.9% 7.5% -5.5% 6.0% -7.1% 5.1% -6.3% 5.4% -7.8% 5.9%
Share 38.7% 37.7% 38.5% 36.8% 36.6% 33.2% 32.2% 28.6% 27.8% 25.9% 25.7% 23.5% 23.4%
RA D IO 16,578.0 16,675.5 16,565.6 16,478.7 17,027.4 16,876.8 16,765.5 16,654.8 17,208.2 16,851.3 17,567.0 17,206.4 17,992.0
Growth 2.3% 0.6% -0.7% -0.5% 3.3% -0.9% -0.7% -0.7% 3.3% -2.1% 4.2% -2.1% 4.6%
Share 10.1% 10.1% 9.6% 9.3% 8.9% 8.5% 7.7% 7.3% 7.0% 6.8% 6.7% 6.5% 6.4%
N EWS PAP ERS 25,201.0 23,587.1 22,077.8 20,362.2 18,274.9 16,476.5 14,499.3 11,948.6 10,574.5 8,595.2 7,884.5 6,343.1 5,525.4
Growth -6.5% -6.4% -6.4% -7.8% -10.3% -9.8% -12.0% -17.6% -11.5% -18.7% -8.3% -19.5% -12.9%
Share 15.4% 14.3% 12.8% 11.5% 9.6% 8.3% 6.7% 5.3% 4.3% 3.5% 3.0% 2.4% 2.0%
MA GA ZINE S 20,625.9 20,194.6 18,655.4 17,238.9 15,867.5 14,641.4 13,535.7 12,081.2 10,907.3 9,807.1 8,895.1 7,636.1 6,589.8
Growth -8.1% -2.1% -7.6% -7.6% -8.0% -7.7% -7.6% -10.7% -9.7% -10.1% -9.3% -14.2% -13.7%
Share 12.6% 12.2% 10.9% 9.8% 8.3% 7.4% 6.2% 5.3% 4.4% 4.0% 3.4% 2.9% 2.3%
O U TD OOR + CINE MA 6,654.0 6,932.0 7,006.0 7,329.0 7,556.0 7,650.0 7,994.3 8,451.5 9,141.3 9,246.5 9,931.1 10,165.4 10,884.5
Growth 4.2% 4.2% 1.1% 4.6% 3.1% 1.2% 4.5% 5.7% 8.2% 1.2% 7.4% 2.4% 7.1%
Share 4.1% 4.2% 4.1% 4.2% 4.0% 3.9% 3.7% 3.7% 3.7% 3.8% 3.8% 3.9% 3.9%
IN TER N ET 31,178.7 35,450.0 41,424.7 50,104.0 61,835.9 76,826.1 94,484.1 113,115.1 129,518.5 138,011.6 150,684.7 160,403.8 174,400.2
Growth 14.9% 13.7% 16.9% 21.0% 23.4% 24.2% 23.0% 19.7% 14.5% 6.6% 9.2% 6.4% 8.7%
Share 19.1% 21.5% 24.1% 28.4% 32.5% 38.7% 43.5% 49.8% 52.7% 56.0% 57.5% 60.8% 62.0%
TO TA L $163,473.4 $165,086.3 $171,846.8 $176,399.4 $190,284.9 $198,347.1 $217,137.6 $227,162.5 $245,569.8 $246,403.8 $262,274.3 $263,805.7 $281,113.9
Growth 3.8% 1.0% 4.1% 2.6% 7.9% 4.2% 9.5% 4.6% 8.1% 0.3% 6.4% 0.6% 6.6%

U RU GUAY ( TOTAL – U SD M M )
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
TV $110.0 $110.0 $114.0 $118.0 $109.0 $113.0 $115.0 $121.3 $127.6 $120.9 $124.6 $123.8 $124.5
Growth 6.8% 0.0% 3.6% 3.5% -7.6% 3.7% 1.8% 5.5% 5.2% -5.2% 3.0% -0.6% 0.5%
Share 46.0% 45.1% 44.7% 44.0% 46.2% 45.7% 44.9% 44.9% 45.9% 43.5% 43.1% 42.0% 41.0%
RA D IO 32.0 32.0 33.0 34.0 33.0 33.0 33.0 32.9 30.6 29.2 28.3 28.0 27.3
Growth 6.7% 0.0% 3.1% 3.0% -2.9% 0.0% 0.0% -0.2% -7.1% -4.5% -2.9% -1.1% -2.4%
Share 13.4% 13.1% 12.9% 12.7% 14.0% 13.4% 12.9% 12.2% 11.0% 10.5% 9.8% 9.5% 9.0%
N EWS PAP ERS 29.0 29.0 30.0 31.0 15.0 16.0 15.0 13.2 10.0 9.7 8.4 7.4 6.1
Growth 0.0% 0.0% 3.4% 3.3% -51.6% 6.7% -6.3% -11.9% -24.3% -2.8% -13.8% -12.1% -17.6%
Share 12.1% 11.9% 11.8% 11.6% 6.4% 6.5% 5.9% 4.9% 3.6% 3.5% 2.9% 2.5% 2.0%
MA GA ZINE S 11.9 13.0 14.0 15.0 14.0 12.0 11.7 10.8 9.7 9.7 9.2 8.8 9.1
Growth -8.7% 8.9% 7.7% 7.1% -6.7% -14.3% -2.2% -8.0% -9.9% 0.0% -4.9% -4.4% 3.0%
Share 5.0% 5.3% 5.5% 5.6% 5.9% 4.9% 4.6% 4.0% 3.5% 3.5% 3.2% 3.0% 3.0%
O U TD OOR + CINE MA 44.0 44.0 45.0 48.0 35.0 38.0 38.1 40.5 41.7 44.5 46.2 47.2 48.6
Growth 4.8% 0.0% 2.3% 6.7% -27.1% 8.6% 0.3% 6.2% 3.0% 6.7% 4.0% 2.0% 3.0%
Share 18.4% 18.0% 17.6% 17.9% 14.8% 15.4% 14.9% 15.0% 15.0% 16.0% 16.0% 16.0% 16.0%
IN TER N ET 12.0 16.0 19.0 22.0 30.0 35.0 43.0 51.3 58.4 63.9 72.3 79.6 88.1
Growth 50.0% 33.3% 18.8% 15.8% 36.4% 16.7% 22.9% 19.2% 13.8% 9.5% 13.0% 10.2% 10.6%
Share 5.0% 6.6% 7.5% 8.2% 12.7% 14.2% 16.8% 19.0% 21.0% 23.0% 25.0% 27.0% 29.0%
TO TA L $238.9 $244.0 $255.0 $268.0 $236.0 $247.0 $255.9 $269.8 $277.9 $277.9 $289.1 $294.8 $303.7
Growth 6.2% 2.1% 4.5% 5.1% -11.9% 4.7% 3.6% 5.5% 3.0% 0.0% 4.0% 2.0% 3.0%

39 | WORLDWIDE MEDIA AND MARKETING FORECASTS DEC 2019

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