The global advertising market has experienced significant growth in recent years. In 2020, the worldwide advertising expenditure stood at $651 billion. This figure is projected to increase at a compound annual growth rate (CAGR) of 3.9 percent over the period of 2022 to 2026, potentially reaching a total spend of $818.4 billion by 2026. The market is also characterized by a regional focus, with regions like Asia-Pacific and North America driving a substantial share of the growth, accounting for 34.3 percent and 43.3 percent of global growth, respectively. In terms of specific sub-sectors, the influencer marketing segment in Italy has seen a 33.0% growth from 2019 to 2023, increasing from €242.9 million to €323 million in spending. The main digital marketing techniques rated effective by marketers include content marketing, automation, big data, AI, and machine learning, with content marketing cited as most impactful by 17 percent of global marketers. Additionally, the leading advertising groups globally have seen robust revenues, with WPP at the forefront with approximately $18 billion in 2022, followed by Omnicom Group and Publicis Groupe.

Growth and Trends in the Italian Advertising Agency Market

The Italian advertising agency market has been experiencing notable fluctuations with a mix of growth and declines over recent years. The total turnover of the advertising industry initially showed a decreasing trend from around €11 to €12 billion to about €11.30 billion, seeing a contraction of over 5%. However, when focusing on the segment of advertising agencies, a different pattern emerges with an increase in total turnover of approximately 30% from €6.22 billion to over €8 billion. The pandemic had a powerful impact, with a significant drop noted in 2020, but a rapid recovery was observed the following year. In terms of market demand, Italy has seen a consistent rise in year-on-year changes with a 2% growth in 2019, accelerating further in subsequent years. Among the notable players in the sector, Teads Italia s.r.l and Publicis s.r.l are significant, with turnovers in the range of €30 to €50 million, illustrating the robustness of leading agencies in this space. The Italian market has demonstrated a burgeoning interest in digital advertising trends and influencer marketing, with Instagram being the favored platform for local companies. Interestingly, the most abundant spending in influencer marketing reached a high of over €300 million, signifying a sharp 33% growth within just a few years. In the landscape of Italian TV channels, revenue growth was generally positive, with the exception of a few that experienced a downturn in performance. This indicates a dynamic and ever-changing media environment where various channels vie for advertising budgets. In addition, the regulatory framework plays a fundamental role in shaping the market. With stringent guidelines from authorities like the Consumer Code, GDPR, and the Antitrust Authority, the advertising and marketing practices are well-governed to protect consumers and ensure fair competition. Examining the market structure, there was a notable rise of approximately 30% in the number of active enterprises in the advertising agency sector, growing from around 15,600 to over 20,000. Conversely, employment figures did not follow the same steady uptick and displayed more variability over the same period.

Prominent Italian Advertising Powerhouses Leading the Market

The Italian advertising landscape is dotted with several influential agencies that are carving out a substantial presence both domestically and globally. Let's delve into some of the key players who are shaping the future of advertising in Italy:

Teads Italy s.r.l Founded in 2007 and based in Milan, Teads Italy stands out as a dynamic global media platform that champions innovation and diversity. Its workforce, comprising over 1,200 diverse individuals, is testament to the company's commitment to creativity and continuous learning. With a business model that supports quality journalism, Teads Italy is at the forefront of offering engaging branding messages and advertising solutions that resonate with a wide audience.

Hearts & Science s.r.l Born in the heart of New York in 2016, Hearts & Science marks a departure from traditional media agency models with its data-driven approach to marketing. Aiming to connect with consumers on an emotional level through substantial media campaigns, the agency has grown rapidly and boasts substantial media management that exceeds $4 billion, reflecting their compelling strategy in the art of media influence and advertising.

Starcom Italia s.r.l Publicis Groupe's Starcom Italia, founded in 2000, epitomizes excellence in the advertising industry with their leadership position in media solutions. With a talented team of over a hundred spread across Milan, Turin, and Bologna, led by CEO Vita Piccinini, Starcom Italia is a major force in advertising, boasting a clientele featuring some of the world’s leading brands.

Publicis s.r.l An entity of the internationally renowned Publicis Groupe since 1987, Publicis s.r.l has planted its roots deeply into the global advertising terrain. Publicis Groupe’s history of nearly a century paints a picture of an agency that not only adapted to changing times but also led revolutions in communication and marketing strategies. With its rich heritage and devotion to innovation, Publicis s.r.l remains a key player in creative and strategic solutions.

Dentsu Digital s.r.l Dentsu Digital is a vital cog in the machinery of the Dentsu Group, bringing to Italy a wealth of knowledge and expertise in digital marketing since its inception in 1998. Housing more than 2,550 specialized professionals, the agency thrives on a multifaceted approach to digital marketing that seamlessly weaves communication strategies with digital transformation and creative innovation.

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  • Number of pages : 30 pages
  • Format : Digital and PDF versions
  • Last update : 07/03/2024
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Summary and extracts

1 Market Overview

1.1 Definition and presentation

Advertising agencies offer a wide range of services to promote their clients' products or services. These include market research to identify targets and trends, development of targeted marketing strategies, creation of creative content for advertising, both in digital and traditional forms, and media planning for buying advertising space. They also handle social media management, email marketing, and search engine optimization (SEO). They also offer data analysis to evaluate the effectiveness of advertising campaigns. These services are integrated to create cohesive campaigns that effectively communicate the brand message to the target audience.

In 2022 advertising spending globally reached a value of 651 billion dollars. For the period 2022-2026 global spending is expected to grow. Specifically, over the period analyzed, spending is expected to grow at a compound annual growth rate (CAGR) of 3.9 percent under which total spending in 2026 could amount to 818.4 billion dollars.

This study focuses on the specific market of advertising agencies in Italy, analyzing consumer trends, competitive dynamics, and growth prospects for the industry. For information on related markets, such as digital marketing, see the specific studies available in the Businesscoot catalog.

1.2 The global advertising market is booming

In ****, advertising spending globally reached a value of $*** billion. For the period ****-****, global spending is expected to grow. Specifically, over the period analyzed, spending is expected to increase at a compound annual growth rate (***) of *.* percent by virtue of which total spending could amount to $***.* billion in ****.

Global advertising spending World, ...

1.3 A growing domestic market

between **** and ****, the total turnover of the advertising industry in Italy appears to be declining. During the period analyzed, total revenues decreased from €**.** billion to €**.** billion, representing a contraction of *.* percent. As shown in the graph below, the trend in the medium term is fluctuating and characterized by alternating positive changes ...

2 Demand analysis

2.1 Who are the main advertisers?

In ****, the agribusiness sector has the highest market share on advertisements, accounting for **.* percent of total investments. This is followed by the distribution and automotive sectors with shares of *.* percent and *.* percent, respectively. The pharmaceutical and beverage sectors stand at *.* percent and *.* percent while home management and telecommunications at *.* percent and ...

2.2 The new trend: advertising and influencers

Most popular social media:

In ****, Hootsuit compiled a list of the most popular social media by users on the Internet worldwide. The most popular by number of users are:

Facebook YouTube WhatsApp Facebook messenger WeChat Instagram

These six have more than * billion users. Despite this ranking, the preferred outreach channel forItalian ...

2.3 The digital expectations of advertisers

Based on responses from global marketers in early ****, ** percent cited content marketing as the most effective digital technique because it has the greatest business impact on the business. This is followed by marketing automation, big data, artificial intelligence, and machine learning. In contrast, Paid search and display campaigns are the least ...

3 Market structure

3.1 The market structure

in order to analyze the structure of the advertising agency market in Italy, active enterprises under Ateco Code **.** "Advertising Agencies" are analyzed. In particular, trends in the number of active enterprises and the number of employees are analyzed, as well as the legal form of the different activities

Active enterprises

There ...

3.2 The value chain

For a value chain related to the work done by advertising agencies, the following points are considered:

Research and Analysis: in-depth study of market, trends, and consumer behavior to identify opportunities. Strategy: development of targeted strategies based on research insights, including target segmentation and goal setting. Creative conceptualization: ideation and design ...

3.3 The main actors

A list of the main players active in the advertising industry in Italy is proposed below:

Advertising agencies

Teads Italia s.r.l: positions itself as a global media platform focused on innovation and diversity, having gathered a team of more than *,*** people from various cultures and backgrounds. The company places ...

4 Supply analysis

4.1 Advertising agency: what kind of work?

Working in an advertising agency offers different types of jobs, which can then lead to different professional figures. The main ones are:

Account Manager: is a figure who manages clients in the post-sales phase, also manages the advertising budget and accounting of the agency.

Account Executive: is a figure who maintains ...

4.2 How to open an advertising agency

To practice in the world of advertising there are no specific educational requirements required by law, however, for a functioning and successful business it is advisable to have certain characteristics, for example:

Follow an appropriate educational background (***) Keep up to date (***) on digital media Know the industry well and have contacts ...

4.3 The prices charged

Advertising costs can vary greatly depending on several factors, among them are:

The type of advertising: for example, digital advertising may have different costs than traditional advertising; similarly, costs may vary depending on whether you choose to advertise in newspapers, magazines, radio, television, social media, or search engines. The target audience: ...

4.4 New supply trends

The introduction of artificial intelligence into the field of advertising has the potential to radically transform the personalization of advertising strategies. AI, with its capacity for advanced data analysis, can provide a detailed understanding of user behavior. This paves the way for the creation of highly targeted and effective advertising campaigns. ...

5 Regulations

5.1 Regulatory framework

The Consumer Code

Enacted by Legislative Decree No. *** of September *, ****, establishes the rules that must be complied with for consumer protection, including those concerning online marketing and sales activities. In particular, the Consumer Code prohibits unfair and deceptive business practices, such as misleading or aggressive advertising, and guarantees consumers the right ...

6 Positioning of actors

6.1 Segmentation of actors

  • Teads Italia s.r.l
  • Hearts&Science s.r.l
  • Starc Om Italia s.r.l
  • Publicis s.r.l
  • Pomilio Blumm s.r.l
  • Pardgroup s.p.a
  • Incentive Promomedia s.r.l
  • Dentsu Tech&Services s.r.l

List of charts

  • Overall advertising expenditure
  • Sales of the world's largest advertising groups
  • Expected share of global growth
  • Advertising expenditure per capita
  • Turnover of advertising agency companies
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Latest news

  • The recipient agency of the tender: Atout France.
  • The selected agency: Publicis Media.
  • The object of the collaboration: management of media and communication strategies in target international markets for the development of tourism in France.
  • Comments on the collaboration: Antoine de Trogoff, DG of Publicis Media International, expresses pride and sees the award as an opportunity for his agency to promote France internationally.
Plans for Publicis, the big advertising group to invest 300 million in artificial intelligence - 25/01/2024
  • Publicis will invest 300 million euros in artificial intelligence over the next three years.
  • 100 million euros will be invested in this year.
  • Half of the investment for 2024 (so 50 million euros given that the annual total is 100 million euros) will be focused on improving skills, training people, and talent scouting.
  • The other half of the investments for 2024 will be dedicated to technology, licensing, software and cloud infrastructure.
  • In addition, it is worth noting that Publicis aims to become "the industry's first artificial intelligence-based advertising group" and is working on an entity called "CoreAI" that further integrates artificial intelligence into its platform by connecting every individual in the company.
The importance of the omnichannel approach in nonlinear television and digital: the digital-centric strategy of Teads and Sanofi Consumer Healthcare - 22/11/2023

Key points from the paper:

  • **Market Complexity**: There is a variety of on-demand video apps and services that generate complexity in both content choice for users and touchpoint management for advertisers.
  • **Role of Companies as TEADS**: Companies are tasked with simplifying complexity through integrated management of different digital channels to understand campaign performance and optimize the effectiveness of individual channels.
  • **Innovation in Measurement**: Measurement is experiencing a moment of strong innovation, although some metrics do not yet have a definitive form.
  • **Evaluation of Channels in the Media Mix**: It is essential to properly approach an expanding video ecosystem.
  • **Connectivity between Linear TV, CTV, Mobile and Desktop**: This connection represents not only an enrichment of technology offerings but also a new way of thinking about advertising exposure, allowing more accurate management of frequency, reach and creative.
  • **Initial Brand Strategy**: Based on interpreting brand perception and identifying an ironic and irreverent component for brand repositioning.
  • **Content Regulation**: Campaigns must follow regulations that require ministerial approval of content.
  • **Importance of Digital**: Paradigm shift with the introduction of brand assets "made for digital" and emphasis on the digital medium as the focus of the activation plan.
  • **Campaign Evolution**: The campaign has evolved to include DOOH and display to increase consideration, website and in-store traffic, with a third wave purely digital.
  • **Omnichannel Vision**: With the omnichannel vision, consumers are reached more effectively, maximizing reach and frequency on different touchpoints.
  • **Creative Consistency and Device Optimization**: The need to maintain creative consistency, reworking assets to maximize effectiveness across different devices.
  1. **Hearts & Science's arrival in Italy**: The agency officially arrived in Italy in mid-2020.
  2. **Direction**: The agency is led by managing director Emanuele Giraldi.
  3. **Growth**: Hearts & Science continues to grow through new business.
  4. **Turnover goal (billing)**: The agency is aiming for a billing of 100 million euros in 2023.
  5. **Reorganization**: Preparation of a major organizational reorganization.
  6. **Performance in the first half of the year**: The manager says the first half of the year went very well for the agency.
  7. **Consolidation in Europe and international relations**: The agency is consolidating in Europe and expanding its international relations, particularly in EMEA.
  8. **Focus**: Focus on full funnel campaigns with acquisition and branding component.
  9. **Expected Growth**: Maintaining a double-digit growth trend.
  10. **New Organization and Recruitment**: Anticipation of a new, more structured organization with the introduction of new staff.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Teads Italia s.r.l
Hearts&Science s.r.l
Starc Om Italia s.r.l
Publicis s.r.l
Pomilio Blumm s.r.l
Pardgroup s.p.a
Incentive Promomedia s.r.l
Dentsu Tech&Services s.r.l

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