Market Roundup: Advertising spending booms in Brazil

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Brazilian agencies invested BRL 23.4 billion in advertising in 2023

The latest survey by Cenp-Meios, the self-regulation forum of the Brazilian advertising market, with 336 agencies in the sector, showed that they spent BRL 23.4 billion (USD 4.7 billion) on ads in 2023, up 10.4 percent from the previous year.

State of play. Last year was not only another year of recovery after the pandemic, but also after the 2022 general elections. There was a slowdown in investment in the second half of that year, with many companies postponing investments due to political uncertainty.

By the numbers. As always, broadcast television took the largest share of agency investment, followed by the internet — which includes social media, search ads, and displays. The latter, however, might be gradually taking some of the former’s share.

While the share of investment in campaigns on TV networks decreased from 41.7 percent to 39.6 percent between 2022 and 2023, the share of online advertising increased...

Fabiane Ziolla Menezes

Former editor-in-chief of LABS (Latin America Business Stories), Fabiane has more than 15 years of experience reporting on business, finance, innovation, and cities in Brazil. The latter recently took her back to the classroom and made her a Master in Urban Management from PUCPR. At TBR, she keeps an eye on economic policy, game-changing businesses, and people driving innovation in Latin America.