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Posted on: 10 Jan, 2024, 14:01 PM

Global Radio Projected to Thrive in 2024 with Around Four Billion Monthly Listeners

10-01-2024
Deloitte's prediction for global radio listenership in 2024 suggests there will be a substantial and ongoing interaction with radio. It is forecast that around half of the world's population (or close to four billion people) will listen to the radio each month. Deloitte's anticipated radio advertising revenues for 2024 are expected to reach US$42 billion, showing a modest yearly growth of approximately 1.5%. In various corners of the world, including Africa, radio continues to be a widely utilized medium, particularly for accessing news and information.
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US and China to Account for 70% of Influencer Ad Spending in 2024

In 2024, according to Statista data, the US and China are expected to account for 70% of global influencer advertising expenditure. China's spending in this area is projected to reach $19.1 billion, reflecting a $2.3 billion increase from the previous year. In contrast, the US will see a smaller increase, with its total influencer advertising spending anticipated to be $5.6 billion in 2024.


Source: Marketing Interactive

72% of Global Marketers Set for Bigger Ad Budgets in 2024 Despite Economic Challenges

Despite economic headwinds, 72% of global marketers are poised to increase their ad budgets in 2024, a significant jump from last year's 64%, according to Nielsen's latest report. This optimism is especially strong in Asia-Pacific, with 81% expecting budget hikes compared to 56% in the previous year.


Source: Financial Express

Advertising Regulations and Compliance in Kuwait

In Kuwait, advertising is regulated under several laws, with oversight by the Kuwait Municipality, Communication and Information Technology Regulatory Authority (CITRA), and the Ministry of Information. Key aspects of advertising regulation in Kuwait include:

Content Restrictions: Advertising must not harm public morals or order and must not promote prohibited products such as alcohol, narcotics, or gambling. Furthermore, advertising must not include statements or content that could be deemed offensive to religious sensibilities or national leadership.
Language and Cultural Considerations: All advertising must be in Arabic, though other languages can be included provided they do not overshadow the Arabic content. Advertisements must respect Islamic and national values, reflecting local cultural norms.
Comparative and Deceptive Advertising: Kuwaiti law allows for comparative advertising provided it does not mislead or deceive. Advertisements should not unfairly criticize competitors' products or services, and all claims must be substantiated.
Regulatory Oversight and Enforcement: CITRA and the Ministry of Information monitor and enforce advertising standards. Violations can result in fines, suspension of business activities, or other legal actions depending on the severity of the offense.

These regulations ensure that advertising respects cultural values and consumer protection laws, maintaining ethical standards across all forms of media. Compliance with these guidelines is crucial for any business operating in Kuwait to avoid legal pitfalls and maintain good standing within the regulatory framework.

Key Advertising Regulations in Bahrain

In Bahrain, the advertising landscape is shaped by various regulations emphasizing cultural respect, legal compliance, and specific industry guidelines:

General Advertising Regulations:
Press, Printing, and Publishing Law (PPP Law) No. 47 of 2002: This law encompasses all audio, visual, print, and digital content, mandating adherence to norms that protect public order and the principles of Islam, prohibiting content that could be deemed offensive to public morals or the political structure of Bahrain​​.
Media Content Regulation:
Resolution No. 1 of 2015: This resolution supplements the PPP Law, requiring all media content to be respectful of Bahrain's government and its relations with allied countries. It also sets guidelines for maintaining national unity and public ethics, including prohibitions against offensive material​​.
Specific Industry Regulations:
Various sectors such as financial services, healthcare, and telecommunications have their own specific advertising regulations, necessitating prior approvals for advertising certain products or services​​.
Billboard Advertising:
Law No. 14 of 1973 on the Advertisements Law: Primarily focuses on the licensing processes required before installing billboard advertisements, aiming to regulate the visual landscape and ensure content suitability​​.
Self-Regulation and Enforcement:
While there is no primary self-regulatory advertising system in Bahrain, the enforcement of these laws typically follows a reactive model, where actions are taken based on public complaints, guided by the Ministry of Information Affairs (MOIA) and the Telecommunications Regulatory Authority (TRA)​​.

Understanding these frameworks is crucial for advertising effectively and legally in Bahrain, ensuring that campaigns are not only compliant with the letter of the law but also aligned with local cultural and ethical standards.

Elevate Your Brand in 2024 with Times Square's Top 3D Screens!

Unlock unparalleled brand visibility in New York City! Times Square, renowned for its vibrant digital landscape, presents an unique opportunity with its top four 3D screens: ‘Digital Godzilla’, ‘Big Kahuna’, ‘The Monsta’, and ‘Big Bertha’. Each screen offers a unique canvas for your brand to captivate millions with unmatched clarity, scale, and engagement. Whether it's the sheer size of ‘Big Kahuna’ or the innovative technology of ‘Digital Godzilla’, your advertisement will not just be seen; it will be an experience. Collaborate with GlobalMediaKit for tailored advertising solutions that breathe life into your brand at Times Square. Let's make your presence in one of the world's most iconic locations impactful.

Explore Now On: www.globalmediakit.com

Google's Gemini AI Unveils a New Era for Search Ads in Africa

Google's Gemini AI, an innovative tool for Search Ads, is now fully accessible to businesses across Africa. This AI-powered advertising solution simplifies ad creation, enhancing online visibility for companies of all sizes. Particularly in Sub-Saharan Africa, where internet usage is growing, Google Gemini offers a conversational AI experience that streamlines digital marketing efforts. It's designed to boost customer engagement online, providing accessible advertising solutions. By leveraging tech advancements like Google Ads innovations, businesses can tap into effective advertising strategies, fostering online business growth in Africa.


Source: Okay.ng

US Programmatic Ad Spend to Jump 15.9% in 2024, Fueled by Video Growth

In 2024, programmatic digital display ad spending in the US is expected to rise by 15.9 per cent, surpassing the growth of non programmatic ads by three times. According to Insider Intelligence's forecast, at least 90 per cent of digital display ad dollars will shift towards programmatic approaches this year. Looking ahead to 2025, US programmatic digital display ad spend is projected to grow by 13.3 per cent, reaching $178.25 billion, driven by the popularity of video formats on ad-supported streaming TV and video-on-demand tiers. This reflects the changing landscape of digital advertising, where the efficiency of programmatic methods and the increasing prevalence of video content on ad-supported platforms are key factors.


Source: Insider Intelligence

Disney's Game-Changing Ads: Unleashing AI for Personalised Impact

Walt Disney is setting a new standard in the world of advertising with its groundbreaking AI-powered tool, nicknamed as "Disney's Magic Words." This innovative approach to ads on Disney+ and Hulu streaming platforms marks a significant leap forward. By using artificial intelligence and machine learning, Disney is enabling brands to personalise commercials by aligning with the mood of specific scenes within a movie or television series, enhancing viewer engagement. The collaboration with Omnicom Media Group in the early beta test underscores the potential of this technology to redefine brand personalisation in advertising. The feature, leverages viewer mood targeting advertising, offering a unique opportunity for advertisers to connect with audiences on a more emotional level, promising a game-changing impact on the effectiveness of ads within the ever-evolving digital landscape.

Source : Reuters

UK's Small and Medium Businesses Place Stronger Trust in Digital Advertising

In the UK, trust in digital advertising among small and medium-sized businesses has increased by 24 percentage points in the last three years. Currently, 74% of these businesses express trust in digital advertising, marking an almost 50% rise from the trust levels recorded in 2020. These findings are from a 2023 research study conducted by IAB UK in collaboration with the research agency MTM.


Source: iab UK

China's Luxury Market Rebounds, LVMH Reports Over 30% Surge

China's luxury market is witnessing a resurgence, although it has not yet reached 2021 levels. Insights from industry analysts and the financial reports of major brands indicate emerging growth opportunities compared to pre-pandemic patterns. LVMH, the latest luxury player to unveil its 2023 results, disclosed a remarkable surge of over 30% in fashion and leather goods sales in China for December.
Source: CNBC

Stand Out in Times Square with The Big Kahuna

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Shine Bright in Times Square: Your Unforgettable Brand Showcase!

Ready to captivate the world? Join us in Global Media Kit, where the ABC Supersign awaits your brand's masterpiece! Unlock limitless possibilities and make an unforgettable impact today. Secure your prime spot now! www.globalmediakit.com

Unlock extraordinary branding opportunities on premium golf courses in Kenya!

Reach CEOs, entrepreneurs, diplomats, and the political class with your brand in the spotlight. Let our expert media planners guide you to success. From eye-catching signage to creative displays, we'll make your brand shine. Boost visibility, forge powerful partnerships, and captivate affluent consumers. Act now and experience the freedom to shine. Join us today! www.globalmediakit.com

Unlock Connectivity in the UAE with Wi-Fi Advertising!

Looking for high-impact ad opportunities that captivate audiences? Wi-Fi Advertising in the UAE has got you covered! Blend with the metropolis at Bay Avenue, experience modernity at Dreamland Centre, and reach shoppers at Ibn Battuta Mall. Harness Wi-Fi connectivity for personalized ads and engage with interactive formats to elevate your brand. Transform your advertising strategy today and reach out to us for Wi-Fi advertising in the UAE! www.globalmediakit.com

Embrace History: Advertise on the Iconic Marble Arch!

Showcase your brand on London's historic Marble Arch! Limited opportunity from July 2023 to Spring 2025. Don't miss out! Resonate with global audiences and support conservation. Join us today! www.globalmediakit.com

Unleash your brand's potential at Piccadilly Lights in London!

Discover our video guide for an exciting advertising experience that captivates and mesmerizes. From 3D to traditional ads, we've got you covered! With the unique rotation system, your ad shines on one of six panels for 90 seconds, followed by a breathtaking 40-second full-screen takeover! Every hour, you'll have a full-screen slot guaranteed, maximizing your exposure from 7 am to 11 pm. Watch the video now and let's make your brand shine at Piccadilly Lights! Join us on: www.globalmediakit.com

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