Global media inflation—the rising cost of advertising across the world—is expected to be slightly lower in 2024 compared with 2023, according to recent research from ECI Media Management.

The report was based on a wide range of sources, including data from ECI's global network of experts and clients, data from agencies and media vendors, and insights from industry bodies and publications.

The total global media inflation rate in 2023 was 3.3%. The inflation rate for online media was 4.4%, and offline was 1.7%.

Out-of-home (OOH) advertising had the highest inflation rate (5.4%) in 2023, and magazines had the lowest (-2.5%).

In 2024, the total global media inflation rate is forecast to dip to 3.1%, with online media having a rate of 3.4% and offline a rate of 2.6%.

OHH and online video are expected to have the highest inflation rates (+4.2%) this year and magazines are expected to have the lowest (+0.1%).

Media inflation is forecast to vary widely by geography in 2024. For example, Latin America is expected to undergo a much higher jump in advertising rates compared with North America.

About the research: The report was based on a wide range of sources, including data from ECI's global network of experts and clients, data from agencies and media vendors, and insights from industry bodies and publications.