The research report titled, “Advertising in Spain: ISIC 743”offers a complete 360 degree view of the advertising industry in Spain. It entails a comprehensive guide to the size and shape of the Advertising market at a national level by providing the latest retail sales data that permits its users to identify various sectors stimulating growth. All the leading companies as well as leading brands are well investigated and a strategic analysis of the key factors influencing the market, be it- new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues, is executed in an effective manner such that a true image of the industry is created.
Advertising along with certain other ways of promotion of products has maintained its position globally wherein it has long been a major bridge between the customers and final sales. The advent of advertising brought in some traditional mediums including ads through televisions, radios and outdoor advertising in the form of banners etc. In the recent years of development, it has been noted that online ways of advertising are brewing up in the industry and this online way of advertising is really beneficial for those companies aiming at cost cutting and ultimately, the expansion of consumer base.
The advertising market majorly covers: Internet and Other Advertising Means, Outdoor, Press, Radio, Television. The data for all these types involved in the industry is very well laid out highlighting market sizes (historic and forecasts), company shares, brand shares and distribution data.
It has been observed that advertising’s contribution to Spain’s overall GDP has been registered as somewhat higher than the last year and this trend is all set to ameliorate each passing year. The number of companies in advertising has evolved by about 8.3% when present situation is compared to 2015. Moreover, the employment rates in advertising and market research in the country have developed significantly by about 16%, returning the economy back to the levels before 2009 economic crisis.
Even, the number of students pursuing a degree in courses related to advertising and public relations has augmented by a decent percentage in the recent years because of growing awareness of the scope of advertising and its uses in the country. The Spanish parents have been witnessed as emboldening their children to look up to careers in advertising filed since it has created a lot of employment opportunities for the country.
Spain has been noted to possess more newspapers and magazines per capita than any other European country. However, a very few percent of Spaniards bother to read the newspapers daily and this number has dwindled constantly for the past nine years. Therefore, for the advertising industry to boom; these newspapers alone will not be able to generate sufficient revenues and Spain thereby does not anticipate an eye-catching proliferation in the years to proceed even if GDP is estimated to enhance by a decent percentage this year.
In order to cope up with the industry dynamics optimally such that it does not incur negative growth rates or even losses in the coming years; Adtech solutions has launched much more effective and hyper-personalized marketing techniques better known as ‘digital advertising’ which is expected to propel the demand for this industry via popularity of mobile advertising and amplifying social media engagement. It will thus ensure that the advertising industry in Spain expands at a steady growth rate initially and come out beautifully in forthcoming years.
Lately, it has been observed that the primary objective of this country is to support the small and medium-sized businesses (SMEs) to successfully enter the market, turning it more competitive in the coming years. Furthermore, with upcoming advancements in the long term, i.e. growing use of internet and take-off of digital television; the advertisers in Spain will be aided to target their audiences more effectively and efficiently in future. Hence, the advertising sector in Spain is all set to emerge with the passage of time and it will certainly improve in terms of market size and revenues over the years via support of inter related economic factors.
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Ankur Gupta, Head Marketing & Communications