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At $22.25 billion, digital advertising is advancing unabated in Latin America this year. Double-digit gains in video and retail media ad spending, as well as improving economic conditions in Brazil and Mexico, will help take the regional market to new heights. Here are the latest trends you need to know.

Despite a slow start, foreign sanctions, and tight digital regulations, generative AI is emerging as a significant force in China.

How we got here: P&G is far from the only company turning to fast-growing ecommerce platforms like Douyin and Kuaishou to make up for sluggish demand in China.

Both companies are under severe pressure from low-cost competitor Pinduoduo, as well as newer platforms like Douyin, Kuaishou, and Xiaohongshu that are winning over shoppers with a skillful blend of entertainment and commerce.

Three companies鈥�Kuaishou, Baidu, and Apple鈥攚ill join the ranks of the $10 billion ad revenue club this year. Ad spending growth will accelerate across the board in 2024. Digital media, traditional media, and total media ad spending will all grow faster worldwide this year than in 2023.

One such strategy involves establishing a presence on fast-growing video platforms like Douyin, Kuaishou, or Xiaohongshu, all of which are rapidly growing market share despite the volatile landscape.

Government censorship hampered the development of social media in China for many years, and although platforms like Douyin and Kuaishou eventually learned to flourish, strict privacy controls limit their ceilings as well. An ecommerce player, Alibaba, led from the start.

Wider adoption is helped by nearly every major Chinese ecommerce and social platform participating in live commerce, including Alibaba鈥檚 Tmall and Taobao, JD.com, Pinduoduo, and WeChat, along with short-video apps Douyin (TikTok鈥檚 sister app in China) and Kuaishou. Other mobile-first markets in Asia-Pacific hold promise for livestreaming ecommerce.

ByteDance, Microsoft, and Tencent crossed the $10 billion threshold already, and Kuaishou, Apple, JD.com, and Baidu will join the ranks over the next year or two. By contrast, no platform that primarily features connected TV, entertainment, news, arts and culture, ratings services, or digital audio is anywhere close to that level.

Short-video platform Kuaishou is attempting to capitalize on the trend by offering virtual influencers as a service to help brands market and sell products. Prediction. A 鈥減ractical鈥� metaverse will emerge in China in 2023. The metaverse will be more than a realm for entertainment and shopping.

In 2023, Chinese short-video app Kuaishou will join the list below, and in 2024, Apple will make the cut as well. Google鈥檚 parent company, Alphabet, and Meta will remain far out in front, but the field will be increasingly crowded. Google and Meta are the only players with double-digit shares globally, although Amazon and ByteDance are rising quickly.

This ranking ascent will mostly owe to China鈥檚 Kuaishou and Baidu underperforming, although Apple鈥檚 estimated total has been revised slightly upward as well. Despite its political challenges, TikTok will lead the world in ad revenue growth. TikTok and Mercado Libre will set the pace globally, though at vastly different scales.

It will be another turbulent year for social media in Latin America. As the number of users nears 400 million, declines at Facebook and Twitter will have profound, long-lasting implications for the region鈥檚 two biggest markets: Brazil and Mexico.