Executive Summary

We significantly revised our regional ad spending figures to reflect the rapidly changing conditions of Latin America’s ad market. This report provides advertisers with updated guidance on how to best navigate the region’s market movements in 2021 and beyond.

How did the coronavirus pandemic impact total media ad spending in Latin America?

A combination of government-mandated lockdowns, local currency devaluations against the US dollar, and the cancellation of major sporting events prompted total regional outlays to fall 13.1% year over year (YoY) to $20.82 billion in 2020. Last year, all six of the Latin American markets covered in this report were among the top 10 worst-performing ad markets we forecast.

How will TV ad spending fare in a post-pandemic world?

We do not expect TV outlays to bounce back to their pre-pandemic levels over the remainder of the forecast period in five of the six markets we cover. Chile is the only exception, where we project that TV ad spending will return to 2019 spending levels by the end of 2022.

How much will advertisers in Latin America spend on digital advertising in 2021?

We expect that digital ad spending in Latin America will grow 15.0% to $9.96 billion. Spend will continue to grow at an accelerated pace as consumers adopt a more digital-first lifestyle. Digital platforms will claim 43.2% of all media spending, fueled by growth in the region’s two largest ad markets, Brazil and Mexico.

How much are advertisers in Latin America prioritizing mobile?

This year, we forecast that mobile’s share of digital ad spending will surpass the three-quarter (78.5%) mark for the first time, rising from $6.43 billion to $7.82 billion.

WHAT’S IN THIS REPORT? This report features our latest forecasts for ad spending in Latin America, including six markets: Argentina, Brazil, Chile, Colombia, Mexico, and Peru. It also examines six key regional trends in 2021 and beyond.

KEY STAT: Digital ad spending in Latin America will largely be focused on mobile devices in 2021. For example, mobile ad spending in Mexico will account for 88.5% of digital ad spending, the second-highest share in the world behind China’s 92.0%.