TV advertising investments tracked by the Omedia institute in Ivory Coast reached just over 10 billion CFA francs in 2023.
This represents a decline of 10.6% compared to 2022. It is the worst year since the launch of private channels in 2019.
The 4.3% decline in the last quarter confirms the poor results already seen in the first half of the year and more broadly over the first nine months, even though there had been hopes for an upturn in the third quarter.
In a country with one of the highest growth rates in Africa, it is surprising to see TV advertising investment decline when it should have increased due to growth and also due to the improvement in the range and diversity of programs offered by the new private Ivorian channels.
This situation is surprising because television is by far the most effective advertising medium:
- It reaches 2 to 3 times more people every day than digital media.
- It offers both images and sound, unlike displays, which can only show products/brands.
- It has proven its effectiveness in terms of brand awareness, image, and sales for decades in countries around the world.
But it is also worrying because, unlike billboards, which contribute little to the country's economic development, the amounts invested in advertising by television advertisers are used to create content that is relevant to the concerns of Ivorians, to initiate investment in production and create jobs in Côte d'Ivoire, to train young people and nurture young talent, to promote the international influence of Côte d'Ivoire, and to enable pluralism of information.
Convinced that it is in the interest of the entire ecosystem to support the financing of Ivorian television, Adweknow will announce in the coming weeks an innovative initiative to contribute to the promotion of television.