Julia Faria
Research lead covering advertising and marketing
Advertising in Mexico – statistics & facts
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On the global advertising stage, Mexico remains a member of the chorus line; but within the Latin American market, it shines like one of the main stars. Mexico’s advertising spending will reach an estimated 133 billion Mexican pesos in 2024, up 11 percent from the previous year. That revenue sets Mexico among the world’s top 15 largest economies by ad spend. For comparison, this expenditure amounted to less than three percent of the global leader's spend, the United States, while it's only second to Brazil in Latin America and stands out as one of the region's most digitized ad markets.
The increasing dominance of digital media
The internet was by far Mexico's top ad channel as of 2022, worth more than 74 billion pesos. The closest medium, free TV, was worth only 27.54 billion pesos, just over one-third the value of the digital market. In a highly competitive environment, none of the sectors held a dominant position in online advertising, with online stores leading the way with a share of slightly more than six percent. Besides, a global 2023 survey revealed that retail websites ranked second among Mexico's most common source of new brand discovery, trailing behind only social media ads. Meanwhile, posts shared by brands on their sites were left behind in the ranking.Where video portals beat linear TV
Latin America's second most populous country remains a significant target for advertisers. Of the six largest economies in the region, Mexico enjoyed the most internet-reliant ad market, with online channels alone attracting over 60 percent of the country's ad dollars. Video portals, such as YouTube, had the highest reach among Mexico's leading digital advertising touchpoints as of March 2024 – 57 percent of respondents mentioned them as the platforms where they came across digital ads. However, social media websites and apps closely followed. Although digital media was the dominant format, TV remained a significant medium in the country. In 2022, Mexico's TV ad revenues amounted to nearly 35 billion Mexican pesos.Mexican advertising's future is, like its present, on the internet
Forecasts indicate that the Latin American advertising industry will continue to grow steadily. By 2026, advertising spending in the continent will reach an estimated 31.7 billion U.S. dollars. In parallel, Mexico's digital advertising expenditure has been growing steadily over the past years, suggesting that the future of the online advertising industry in the country is bright. Alongside, during a 2024 survey, nearly half of responding Mexican consumers preferred digital media content as it was easier to manage. More than 60 percent of respondents said that digital services allow them to discover new and exciting content.Julia Faria
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Aug 12, 2024
Julia Faria
Research lead covering advertising and marketing
