{"id":3227,"date":"2025-08-27T15:40:27","date_gmt":"2025-08-27T15:40:27","guid":{"rendered":"https:\/\/novaexpressao.pt\/where-will-advertising-investment-go-in-the-final-stretch-of-the-year\/"},"modified":"2026-06-26T14:34:11","modified_gmt":"2026-06-26T14:34:11","slug":"where-will-advertising-investment-go-in-the-final-stretch-of-the-year","status":"publish","type":"post","link":"https:\/\/novaexpressao.pt\/en\/where-will-advertising-investment-go-in-the-final-stretch-of-the-year\/","title":{"rendered":"Where Will Advertising Investment Go in the Final Stretch of the Year?"},"content":{"rendered":"\t\t
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The first half of 2025 was marked by uncertainty. But what can advertisers expect as the market enters the final stretch of the year? Executives from Wavemaker, Initiative and Nova Express\u00e3o share their outlook.

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\u201cAt Nova Express\u00e3o, we expect a strong finish to the year in terms of advertising investment. Traditionally, this is the busiest period for many of the advertisers we work with, and this year we are also seeing the launch of several major new projects,\u201d says Filipe Teot\u00f3nio Pereira, Managing Director of Nova Express\u00e3o, who anticipates a positive end to the year for the advertising market. <\/p>

\u201cFor the Portuguese market, we expect advertising investment to regain momentum in the final months of the year, in line with the annual growth forecasts,\u201d says the media agency executive when asked about his outlook for the post-summer season\u2014a traditionally critical period for the media industry and a key investment window for advertisers.<\/p><\/header>

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Filipe Teot\u00f3nio Pereira acknowledges that the first half of the year fell short of expectations for some media channels. However, he believes that several national and international factors that had led advertisers to adopt a more cautious approach have now stabilised. He points, for example, to the conclusion of Portugal’s general election and the easing of uncertainty surrounding Donald Trump’s return to the White House, creating a more favourable environment for investment.At the same time, he expects consumer spending to benefit from an increase in disposable income following the introduction of the new income tax withholding tables. \u201cBrands are paying close attention to these developments and will certainly be agile and pragmatic in their response,\u201d he says. <\/p>

Playce had been proving highly successful, establishing itself as a valuable new revenue stream for Portuguese media companies. The situation surrounding TIN highlights the broader challenges facing national media organisations\u2014not only in the press sector, but across the media industry as a whole. <\/strong><\/h5>
Filipe Teot\u00f3nio Pereira<\/strong>Managing Director, Nova Express\u00e3o<\/h6>

Rui Freire, Managing Director of Initiative, expects Portugal’s advertising market to grow by around 3% in 2025, maintaining the same pace recorded in 2024. \u201cAlthough growth is expected to be moderate, the post-summer season typically brings a significant increase in advertising investment, particularly in categories that concentrate a large share of their campaigns in the final quarter of the year,\u201d he says.The back-to-school season, Black Friday and Christmas are traditionally among the busiest periods for advertisers and could prove decisive in balancing the year’s overall performance. <\/p>

Speaking specifically about the agency he leads, Rui Freire reveals that its growth is \u201cwell above the market, in the double digits, which gives us confidence that this will be another positive year.\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\"\"\/\t\t\t\t

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While stressing that there are still no official figures and that forecasts remain \u201csubject to the usual uncertainty,\u201d Frederico Correia, Managing Director of Wavemaker, expects the market to continue the growth trend seen in recent years. \u201cWe are forecasting modest growth of between 2% and 4% by the end of the year, broadly in line with the economic recovery and the stabilisation of media prices,\u201d he says.<\/p>

When it comes to advertisers’ preferred media channels, Filipe Teot\u00f3nio Pereira does not expect any significant shifts in the media mix, with television likely to retain the largest audited share of advertising investment. \u201cThe increasing digitalisation of media, advances in technology and the growing use of AI have unlocked new potential for traditional media. The main challenge for advertisers and agencies is to maximise the return on their advertising investment by making the most of these new capabilities,\u201d he explains. <\/p>

The WPP Media executive also expects television and digital to continue attracting the largest share of advertising investment, reflecting the way audiences in Portugal consume media.<\/p>

\u201cWe are confident that television investment will remain stable through to the end of the year compared with 2024. We may see a very slight shift, either up or down, of less than one percentage point, essentially reflecting the very high consumption of the medium in a market such as ours. In parallel, digital, across its various disciplines, with particular emphasis on video and connected TV, should continue its growth trajectory, with investment expected to increase by between 5% and 10% versus 2024,\u201d says Frederico Correia.<\/p>

Frederico Correia also expects outdoor advertising and radio to remain broadly stable. \u201cOutdoor will continue to play a critical role in extending campaign reach, while radio retains its unique ability to deliver frequency and maintain close connections with Portuguese audiences. It has also shown remarkable resilience in the way it has successfully evolved within the digital environment,\u201d he explains. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\"\"\/\t\t\t\t

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Rui Freire, meanwhile, identifies digital and out-of-home as \u201cthe main drivers of growth\u201d, while television \u201ccontinues to deliver unrivalled reach and remains a cornerstone of advertisers’ media strategies, albeit in a rapidly evolving landscape\u201d.In terms of media investment, television continues to command the largest share of the market, accounting for 46% of total spend despite a slight decline. Digital now represents 30% of the market and has grown by 3% compared with the first half of 2024, consolidating its position as the second most important medium. Out-of-home continues to perform strongly, mirroring the positive trend seen in 2024, driven largely by its digital transformation, with growth of 10%. Cinema has also delivered a remarkable recovery, posting growth of 48%, albeit from a much smaller base, notes the IPG Mediabrands agency executive. <\/p>

Conversely, Rui Freire notes that print and radio continue to experience significant declines, with investment falling by 13% and 12%, respectively.<\/p>

The market continued to grow, with digital and out-of-home delivering particularly strong performances, while cinema recorded a notable recovery.<\/strong><\/h5>
Rui Freire<\/strong>Managing director, Initiative<\/strong><\/h6>

Views on the first months of 2025 are not entirely aligned. Looking back at the first eight months of the year, however, Initiative’s Managing Director offers an overall positive assessment. \u201cThe market continued to grow, with digital and out-of-home delivering particularly strong performances, while cinema recorded a notable recovery.\u201dOn the downside, he notes that \u201cprint and radio continue to experience significant declines, while television, although still the dominant medium, is showing signs of gradual erosion.\u201d <\/p>

Filipe Teot\u00f3nio Pereira points out that \u201ctelevision remains the medium attracting the largest share of advertising investment and continues to innovate, as demonstrated by the introduction of CPM-based buying\u201d\u2014a trading model based on cost per thousand impressions, long established in digital advertising.<\/p>

\u201cWe have seen significant consolidation in the out-of-home sector, which, together with the ongoing digitalisation of inventory, promises to further strengthen the offering available to advertisers. Radio also continues to evolve the audio market. Beyond podcasts\u2014which are now a well-established format and reflected in Marktest’s latest audience study\u2014radio itself is becoming increasingly digital. This is creating new opportunities, as well as new challenges, for advertisers and agencies,\u201d says the Nova Express\u00e3o executive.<\/p>

Among the more negative developments, Filipe Teot\u00f3nio Pereira highlights the suspension of Playce and the situation surrounding Trust in News. \u201cPlayce had been proving highly successful, establishing itself as a valuable new revenue stream for Portuguese media companies. The situation at TIN highlights the broader challenges facing national media organisations\u2014not only in the press sector, but across the media industry as a whole,\u201d he says.More broadly, he warns that \u201cif we look beyond the specific circumstances of this media group, it becomes clear that unregulated competition from international platforms remains a structural issue that has yet to be addressed.\u201d <\/p>

Frederico Correia takes a more critical view of the first half of the year. \u201cI think we would all agree that the first half of the year was marked by considerable inconsistency,\u201d he says.\u201cManaging advertising investment was extremely challenging, and we felt the effects of the instability caused by the global macroeconomic environment very acutely. So far, this has been a year shaped by a succession of events that have affected many of the brands we work with, particularly those heavily dependent on tariffs, transport and freight costs, all of which have had a significant impact on production costs,\u201d explains the WPP Media executive. <\/p>

Among the year’s biggest setbacks, Frederico Correia also points to the discontinuation of Playce, which he describes as \u201ca highly relevant solution from both an attention and audience-targeting perspective, developed locally and already generating a meaningful share of revenue for Portugal’s leading publishers.\u201d\u201cAbove all, we believe the entire Portuguese media industry has been the real loser following the abrupt discontinuation of the platform. We are now waiting to see what the future holds for this type of locally developed solution,\u201d he says. <\/p>

\u201cIt is important to recognise the industry stakeholders who continue to believe in the strength and potential of the Portuguese market\u2014whether publishers, advertisers or agencies. The first half of the year has demonstrated that resilience and should provide a solid foundation for closing 2025 on a positive note and entering 2026 with confidence and optimism.\u201d <\/strong><\/h5>
Frederico Correia<\/strong>Managing director, Wavemaker<\/strong><\/h6>

On the positive side, Wavemaker’s Managing Director highlights the way the industry as a whole has continued to strengthen the relevance of the local market\u2014whether through technical expertise, its ability to embrace and apply new technologies and AI, or the continued dynamism demonstrated by local media companies.\u201cThe reality is that, despite a highly challenging international environment, the market has continued to grow,\u201d he concludes. <\/p>

\u201cIt is important to recognise the industry stakeholders who continue to believe in the strength and potential of the Portuguese market\u2014whether publishers, advertisers or agencies. The first half of the year has demonstrated that resilience and should provide a solid foundation for closing 2025 on a positive note and entering 2026 with confidence and optimism,\u201d he concludes.<\/p>

\u201cWe believe more than ever in the importance of local content, in activating brands within a meaningful national context and, above all, in the role technology will play in helping us, as an agency, become more relevant and effective in our mission to grow our clients’ businesses,\u201d he adds.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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+M | 27.08.2025<\/strong><\/span><\/em><\/a><\/h6>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The first half of 2025 was marked by uncertainty. But what can advertisers expect as the market enters the final stretch of the year? Executives from Wavemaker, Initiative and Nova Express\u00e3o share their outlook. \u201cAt Nova Express\u00e3o, we expect a strong finish to the year in terms of advertising investment. Traditionally, this is the busiest […]<\/p>\n","protected":false},"author":2,"featured_media":3217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"post_destaque":"0","footnotes":""},"categories":[29],"tags":[],"class_list":["post-3227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinion-articles-interviews"],"acf":[],"yoast_head":"\nWhere Will Advertising Investment Go in the Final Stretch of the Year? - Nova Express\u00e3o<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/novaexpressao.pt\/en\/where-will-advertising-investment-go-in-the-final-stretch-of-the-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where Will Advertising Investment Go in the Final Stretch of the Year? - Nova Express\u00e3o\" \/>\n<meta property=\"og:description\" content=\"The first half of 2025 was marked by uncertainty. 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