MAM
WARC ad forecast: Digital giants to gorge on global bonanza in 2025
MUMBAI: Global advertising expenditure is set to surge by 7.4 per cent this year to $1.17trn, according to WARC’s latest forecast—the first upward revision in more than a year. The research firm has boosted its projection by 1.2 percentage points since June, driven by what it calls a “social media windfall” and frenetic pre-tariff spending.
The bonanza is heavily skewed towards a handful of technology titans. Meta, Alphabet and Amazon are forecast to hoover up nearly two-thirds of all advertising growth in 2025, cementing their stranglehold on the global marketing purse strings. Outside China, the trio already commands 55.8 per cent of all advertising spend—a share set to exceed 60 per cent by 2030.
Digital platforms are cannibalising traditional media with ruthless efficiency. Nine in every ten new advertising dollars are flowing to online-only platforms, leaving legacy media owners—even those with digital arms—to scrap over what WARC likens to “the equivalent of Facebook’s monthly revenue.”
Social media has emerged as the single largest advertising medium globally, gobbling up 40.6 per cent of new marketing dollars. Spending on the channel is projected to rocket by 14.9 per cent to $306.4bn this year, representing more than a quarter of total global advertising expenditure. Meta remains the chief beneficiary, capturing 60 per cent of all social media advertising spend.
The spending spree was particularly pronounced in the second quarter, when social media expenditure jumped 20.2 per cent year-on-year—well above WARC’s initial projection of 12.4 per cent growth. The surge was driven by retailers rushing to stockpile inventory and promote value ahead of expected price hikes, with retail now the largest category on both Instagram and TikTok.
Search advertising is attracting around 22 per cent of new dollars, while retail media platforms are capturing another 21.5 per cent. Amazon is poised to claim over a third of the retail media pie, which is forecast to grow 13.7 per cent to $175bn in 2025.
The momentum is expected to accelerate further, with global advertising spend projected to rise 8.1 per cent to $1.27trn in 2026 and 7.1 per cent to $1.36trn in 2027. The market is on track to nearly double in value since the pandemic, underscoring advertising’s remarkable resilience despite economic headwinds.
“This includes disruption to global trade and reduced purchasing power among consumers, brands are doubling down on Meta, Alphabet and Amazon,” said WARC director of data, intelligence and forecasting James Mcdonald. “The global market is set to nearly double in value since the pandemic, underscoring the resilience of advertising in a tougher economic climate.”
The rosy outlook contrasts sharply with some other industry forecasts. eMarketer recently slashed its projections for American digital advertising spending, citing the impact of trade wars on automotive and retail sectors. But WARC’s global perspective suggests the digital advertising juggernaut shows no signs of slowing.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
