Colombia Digital Advertising Market Overview 2024
Colombia is a country with a dynamically developing advertising sector that attracts the attention of many global brands. The primary advertising platforms here include the internet, television, and radio. Among them, the internet holds the leading position, capturing 60% of the advertising budget.
This is positive news for advertisers since users are actively engaged online, indicating that their attention and loyalty can be captured and retained precisely there.
Below, we will delve deeper into the digital advertising market in Colombia, focusing on its attractiveness to advertisers from different countries.
- It is forecasted that by 2024, digital advertising expenditures in Colombia will reach $998.4 million USD.
The growth in digital advertising spending in Colombia is driven by the increasing number of internet users and mobile devices in the country. This makes digital advertising more attractive for brands and marketers.
Additionally, according to the latest data from DataReportal for January 2024, Colombians spend almost the highest amount of time on the Internet globally – a whopping 9 hours and 1 minute. Of this, 4 hours and 50 minutes are spent using mobile devices.
For comparison, in Italy, people spend 5 hours and 55 minutes online, while in Japan, it’s 3 hours and 45 minutes.
- According to forecasts, spending on In-App Advertising will reach US$411.5 million in 2024.
Considering that 61.5% of users prefer to access the internet using mobile devices in Colombia, it is evident that there is significant activity in the mobile segment.
This explains the growing interest in advertising within mobile applications.
Furthermore, the share of desktop and mobile device usage in Colombia is 46.4% and 53.6%, respectively. This increasing popularity of smartphones and tablets among users raises brands’ interest in advertising within mobile applications.
- Average advertising spending per user in the in-app advertising market is estimated at $11.3 USD in 2024.
Considering the low cost of attracting user attention within applications compared to other countries, this form of advertising becomes a key component of marketing strategy in Colombia. This attracts the attention of both local and global brands.
It is expected that the compound annual growth rate (CAGR 2024-2028) will reach 9.25%, leading to an increase in the market volume to $586.3 million USD by 2028.
- By 2028, 71% of all advertising expenditures are projected to be spent on mobile devices in the digital advertising market.
In Colombia, the popularity of advertising in mobile applications is growing, with 94.8% of users preferring mobile devices for internet access.
Furthermore, the prevalence of mobile banner advertising in Colombia is evident. In 2024, 68% of the budget is allocated to the mobile advertising segment, with only 32% allocated to desktop advertising.
The growth in the share of mobile advertising reflects the rapid advancement of mobile technologies and the increasing number of users preferring mobile devices for internet access and content consumption.
- In the digital advertising market by 2028, 80% of digital advertising revenue is expected to come from programmatic advertising.
Programmatic advertising will see increased focus on sustainability, transparency, and the use of artificial intelligence. Budgets will be oriented towards flexibility and efficiency, considering economic instability.
In Colombia, programmatic advertising will maintain its significance despite potential obstacles and continue to be a leading advertising tool, attracting the majority of advertising budgets.
If you’re interested in learning more about programmatic and the digital market in other Latin American countries, check out our content.
And if you’re ready to start advertising in mobile apps, contact us – the world’s leading programmatic platform.
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