Inflation Media Management [REPORT]
February 19, 2022
A year ago, many believed that by early 2022 we would be through the worst of the Covid-19 pandemic. In some ways that’s true: vaccine programs have dramatically decreased the likelihood of death and severe illness from the virus, and life has returned, in many countries, to something resembling ‘normal’. Restrictions on movement are over, borders are reopening and economies are recovering. However, the Omicron variant caused a huge spike in infections across the world in late 2021 and it continues into 2022, impacting on consumer confidence and economic recovery.
In this latest issue of ECI Media Management’s Inflation Report, we explore media inflation in the context of a world economy that is recovering, albeit more slowly than hoped for. We examine how media inflation has responded to prevailing economic trends over the last two years, and forecast how it will pan out in 2022. Our objective, as always, is to ensure that global marketers have the information and insights they need to make the right investment decisions for their brands, so they can drive higher media value.
Global media inflation is forecast to make a full recovery in 2022, rising beyond 2021 levels to surpass pre-pandemic 2019 levels. Offline inflation is higher than online, due mainly to strong TV inflation. Online inflation remained steadier than offline in 2020, and is therefore not experiencing the same bounceback as offline; it remains consistent across most markets, with Online Video enjoying
the strongest growth. The story for Print is different: Print inflation continues to decline steadily, although this is expected to slow in 2022 – and Newspaper inflation may even see a small increase in 2022.
Regional stories more or less follow the global one, although there are of course some exceptions. Media inflation in EMEA was higher than in other regions in 2021, thanks mainly to inflated TV prices; APAC, on the other hand, had lower TV inflation than the global average, but higher Online Display inflation. In North America, OOH and Print have not recovered as well as TV and online.
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