Global retail media ad revenue is set to eclipse TV ad revenue by 2028, according to new research.

GroupM’s This Year Next Year mid-year advertising forecast report found that retail media, a category referring to retailer-owned e-commerce sites, is set to grow by almost 10 per cent in 2023 to a valuation of around $126 billion.

TV and print media, meanwhile, were forecast to see declines of 1.2 per cent and 4.8 per cent respectively.

Although the media buyer found that retail media was the third fastest growing vertical in 2023, behind out of home (OOH) advertising, which includes the likes of billboards, and connected TV – ads seen on streaming apps like Samsung TV Plus and Paramount-owned Pluto TV – it expects retail media ad revenue to outpace that of TV (which stood at around $160 billion in 2023) by 2028.

Should the estimates prove true, retail media would retain 15.4 per cent of global retail revenue by the year 2028. In contrast, TV and connected TV service revenues are forecast to sit at around 10 per cent by 2028.

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