Global Experiential Marketing to Finally Outpace Pre-Pandemic Spending in 2024, Rising 10.5% to Reach $128.35 Billion, Compared with $121.87 Billion in 2019

Global experiential marketing, including both the consumer (B2C) and business-to-business (B2B) sectors, grew 9.7% in 2023 to $116.14 billion, and while this performance left the industry below the pre-pandemic spending level of $121.87 billion in 2019, experiential marketing will surpass pre-COVID spending this year. Global experiential marketing spending is expected to grow 10.5% in 2024 to $128.35 billion, according to new research from PQ Media.

“Global experiential marketing, including the B2C and B2B sectors, grew 9.7% in 2023 to $116.14 billion, and while this performance left the industry below pre-pandemic spend levels in 2019, experiential marketing will surpass these levels in 2024.”

B2C experiential marketing is the larger of the two industry sectors, reaching $81.92 billion in 2023, representing a 9% gain compared with 2022, according to the 10th edition of the Global Experiential Marketing Forecast 2024-2028. B2C spending will rise 10.3% in 2024 to $90.32 billion, fueled by spending by the official sponsors of the Paris Summer Olympic teams from each country, as well as rallies for political candidates in 14 of the 20 largest global media markets, particularly in the United States after Vice President Kamala Harris replaced President Joe Biden as the Democratic presidential nominee.

B2B experiential marketing, however, grew faster in 2023, rising 11.5% to $34.22 billion, and it’s on pace to increase 11.1% in 2024 to reach $38.03 billion. Fueling B2B experiential growth is an increase in exhibit booth rentals and attendance fees, as companies enlarge booths to add AI demonstrations and companies continue to send more executives to shows following the cratering of attendance at the peak of the pandemic.

Within B2C experiential marketing, consumer event sponsorships was the larger of the two major channels at $42.72 billion in 2023, with sports being the largest category at $28.65 billion, capturing a 67.1% market share. Live consumer events was the fastest growing B2C channel, up 9.6%, with sports & entertainment being the largest category at $16.04 billion.

Within B2B experiential marketing, exhibit space rental fees was the largest channel at $20.93 billion in 2023, and was the fastest growing of the four B2B channels, up 11.8%. Conferences, seminars & virtual shows was the second largest category, while trade show promotions was the second-fastest growing. Attendance fees was the smallest and slowest-growing B2B channel. Entertainment & recreation was the largest of the 13 industry vertical categories at $4.35 billion, a 12.7% market share, with healthcare & medicine; forestry, mining & energy; and media & technology capturing double-digit market shares.

The United States remained the world’s largest market, reaching $52.80 billion in 2023 and commanding 45.5% of global spending on overall experiential marketing. It ranked fourth in growth among the top 20 markets, rising 11.4% in 2023, trailing Poland, India and Taiwan. Due to the ongoing conflict with Ukraine, Russia posted almost flat growth during the year as international brands continue to boycott the country’s B2C and B2B events.

Within the US, B2C experiential marketing was the larger of the two sectors at $39.46 billion in 2023, but B2B experiential marketing grew faster, increasing 13.4%. Event sponsorship was the larger of the two B2C channels at $19.91 billion, while live consumer events grew faster, up 11.1%. Sports was the largest of the six event sponsorship categories at $14.24 billion, while sports & entertainment was the largest of the five live consumer event categories at $7.84 billion. Meanwhile, exhibit space rentals was the largest of the four U.S. B2B channels at $8.05 billion in 2023, as well as the fastest growing, rising 13.8% during the year. Entertainment & recreation was the largest B2B industry vertical category, reaching $1.91 billion in 2023, according to the Global Experiential Marketing Forecast 2024-2028.

“Experiential marketing is becoming a more important part of marketing campaigns because of better metrics and engagement with customers. In the B2C sector, consumer event sponsorship growth is being driven by new venues accepting sponsorship deals, such as those in sports arenas, floor spaces and uniforms, among others. Live consumer event marketing is growing faster than consumer event sponsorships because it gives brands exclusive access to target consumers, particularly younger demographics at malls, college campuses and nightclubs,” said PQ Media CEO Patrick Quinn. “In the B2B sector, many of the gains reported by various industry verticals are directly tied to products at trade show booths and sessions at conferences and seminars that include a artificial intelligence components. Booths are becoming more interactive and engaging using virtual reality demonstrations and related personalized promotional products.”

US experiential spending is on pace to rise 12% in 2024, fueled by sponsors and live events associated with the Summer Olympics. Political campaign rallies during the 2024 election, particularly after VP Harris replaced President Biden as the Democrats’ nominee, forced former President Trump to increase his number of rallies planned for post-Labor Day. PQ Media believes multiple opportunities abound for event marketers, sponsors, and back-end designers in 2026 when the US, Canada and Mexico will tri-host the FIFA World Cup, as well as in 2028 when the Summer Olympics will be held in the Los Angeles area.