PETALING JAYA: The World Federation of Advertisers (WFA) has released the media cost inflation report covering specific markets.

       Results are based on data provided from eight major media agency groups and consultancies.

       They are Cortex Media, Dentsu, Ebiquity, Havas, IPG Mediabrands, Omnicom Media Group, Publicis and Media Path.

       Coverage has now been expanded to 31 of the largest ad spending markets, with data being provided for a range of media formats (TV, CTV Television Network or CTV, broadcaster video-on-demand or BVOD, addressable TV, social, digital, eCommerce and others, according to WFA.Some key findings of the report showed that the high level of inflation for the US TV upfront prime market is projected to grow by 21% for the 2022 broadcast year.

       However, this is projected to decrease slightly to 14% in 2023.

       The UK Linear TV price inflation has yet to reach single digits, it added, noting that though it has managed to settle down from an extraordinary year in 2021 (41%).

       The patterns of inflation for digital video and display looks set to be very similar year-on-year in 2022 across most markets, according to WFA.

       It said Argentina experienced the highest average inflation rate across all media formats in 2021 and this is expected to rise even higher in 2022.

       WFA, which Malaysian Advertisers Association is an active member, is the only global organisation representing the common interests of marketers.

       It is the voice of marketers worldwide, representing 90% of global marketing communications spend – roughly US$900bil (RM3.9 trillion) per annum.

       WFA champions more effective and sustainable marketing communications.

       It connects the world’s biggest brand owners and national advertiser associations in more than 60 markets, bringing together tens of thousands of brands at the local level.