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But its dominance in digital spending is decreasing, peaking at 71.4% in 2018 and falling to 62.9% in 2025. This is due in part to Amazon鈥檚 increasing share, but domestic publishers are also claiming a greater piece of digital as advertisers see the value of supporting the country鈥檚 media ecosystem.

Google and Meta will account for just over 50% of worldwide digital ad spending in 2024, marginally higher than their 47% share in the US market. Amazon鈥檚 share will be much lower (8.8%)鈥攁lthough it will be among the leaders in revenue growth.

Three of Latin America鈥檚 most prominent retail and ecommerce players鈥擬ercado Libre, Falabella, and Walmart Mexico鈥攚ere among the leaders of the fastest-growing companies ranked by digital advertising revenues. Tesco launched Tesco Media and Insight in November 2021, powered by its data science and loyalty division, dunnhumby.

Mercado Libre closed 2022 with record gains in sales: Strong performances in Brazil and Mexico drove the Latin American ecommerce giant鈥檚 gains.

Our expanded Latin America retail and ecommerce coverage now includes breakouts for 16 markets across Mexico, Central America, and South America. Brazil and Mexico will drive the bulk of net new ecommerce sales this year with a combined regional market share of 75.2%.

Digital ad spending will increase slightly faster this year than in 2022, but the bump will be minimal. Total media ad spending growth will roughly hold steady. But there are parts of the world where spending is surging.

Search spending will rise faster than total digital ad spending. In Western Europe, digital ad spending will increase 8.9% in 2023, per our forecast. Search spending will outpace that at 9.2%. Across Europe search will claim a higher share of digital ad spending in 2023 than in other regions. Meanwhile, spending on retail media networks is surging. 

The exceptions are countries with a strong local competitor, like Mercado Libre in Mexico and Brazil. Domestic retailers in smaller markets, like Canada, have been slow to develop ecommerce channels, resulting in Amazon's dominance. Canada鈥檚 lag was acute in the past decade, especially versus the US.

Twitter鈥檚 layoffs in its Mexico and Brazil offices will likely result in a deteriorating service, driving users to other platforms. Messaging apps have the same reach as mobile social media. Mobile messaging app users will surpass 3.4 billion worldwide this year, on par with the number of mobile social network users.

But it is interesting to see when we look at terms of share of spend, digital audio and podcasting does tend to take a little bit less of percent of total digital ads spending, at least in Latin American countries. I'm not sure how it plays up in other parts of the world, but at least in Latin American country, it's still a very small share of the digital ad spending pie, but it is a fast-growing one.

With linear media ad dollars projected to full 4% this year, it will be digital ad dollars to the rescue, expected to grow by 9% thanks to retail media networks and supported video streaming and the automotive industry recovery, notes Jeremy. Magna thinks retail media ads will improve 15% this year to over $40 billion.

But in terms of the digital ad spending, I mean, China's so far advanced out of any of our markets. That's not a fair comparison. But I would say yeah, usually the point of reference is the US in terms of this. Carina Perkins:.