The market: Brazil’s advertising spending likely surged last year, leading the Americas with growth of 12.3%, per Dentsu’s global forecasts. That is nearly double the US' projected 6.7% growth, emphasizing Brazil's position as a key market for advertisers.

Why it matters: Brazil’s rapid expansion highlights the untapped potential of emerging markets in Latin America, offering opportunities for advertisers seeking high-growth regions.

• Brazil’s projectedincrease in ad spend for 2024 also outpaces Canada, which is expected to grow by just 4.2%.
• Total media ad spending in Brazil is expected to climb from $15.98 billion in 2024 to $22.18 billion by 2028, for cumulative growth of nearly 40%. While overall growth rates will slow slightly by 2028, digital will remain a dominant force, accounting for $14.1 billion of ad spend by then.
• Digital ad spending in Brazil grew 12.1% last year, per our forecast, reaching $8.68 billion, with growth seen accelerating to 14.5% by 2026.
• The market’s retail media ad spending jumped 45.8% in 2024, according to our data, suggesting a rapid shift toward ecommerce-driven advertising channels.

Our take: Brazil’s prominence in regional ad spending growth is a reminder that advertisers must look beyond established markets to remain competitive. The country’s vibrant digital landscape and expanding middle class make it particularly appealing for brands targeting younger and digitally engaged audiences.

• While the US remains critical, its slower growth reflects a saturated market. Advertisers seeking higher ROI should explore Brazil and similar markets with accelerating digital adoption and less intense competition.
• However, succeeding in Brazil requires localization, cultural knowledge, and investment in platforms that resonate with its population, such as mobile-first and social media channels. As growth in Brazil stabilizes beyond 2024, advertisers must also prepare for shifts in consumer behavior to sustain momentum.
• For brands willing to invest early and carefully, Brazil represents a golden opportunity to build market share in one of the fastest-growing advertising markets in the Americas.