Exploding past the $2.85 billion mark with breakneck digital growth, Vietnam's advertising industry is a dynamic force fueled by social media, savvy consumers, and a post-pandemic surge that shows no signs of slowing.
Key Takeaways
- Vietnam's total advertising market size reached approximately 2.85 billion USD in 2023, reflecting a compound annual growth rate (CAGR) of 11.2% from 2019 to 2023
- Advertising expenditure in Vietnam grew by 14.7% year-over-year in 2022, totaling 2.5 billion USD, primarily fueled by post-pandemic recovery
- The Vietnam ad market is projected to hit 3.6 billion USD by 2027, with a forecasted CAGR of 10.8% from 2024 onwards due to rising GDP per capita
- In 2023, digital advertising accounted for 52% of Vietnam's total ad spend, totaling 1.48 billion USD out of 2.85 billion USD overall
- Vietnam's online ad market grew 28.5% YoY in 2023 to 1.5 billion USD, led by social media platforms
- Social media ad spend in Vietnam reached 850 million USD in 2023, 57% of digital total
- Vietnam TV advertising spend totaled 850 million USD in 2023, representing 30% of total ad market
- Print media ad revenue in Vietnam declined 8.2% to 180 million USD in 2023
- Radio advertising spend Vietnam 2023: 95 million USD, stable at 3.3% market share
- Vietnam advertising agencies numbered 1,250 in 2023, up 8% YoY, employing 25,000 professionals
- Top 10 ad agencies in Vietnam held 45% market share in 2023, generating 1.28 billion USD revenue
- Dentsu Vietnam billings reached 350 million USD in 2023, leading multinational
- 72% of Vietnamese consumers aged 18-34 engage with ads daily via social media in 2023
- Brand trust from ads in Vietnam: 68% for digital vs 45% traditional in 2023 survey
- 55% of Vietnam urban millennials prefer video ads under 15 seconds, 2023 study
Vietnam's advertising industry is rapidly expanding and shifting toward digital media dominance.
Agency & Player Landscape
- Vietnam advertising agencies numbered 1,250 in 2023, up 8% YoY, employing 25,000 professionals
- Top 10 ad agencies in Vietnam held 45% market share in 2023, generating 1.28 billion USD revenue
- Dentsu Vietnam billings reached 350 million USD in 2023, leading multinational
- Local agency growth 12% to 650 firms in Hanoi/HCMC combined 2023
- Ogilvy Vietnam revenue 180 million USD 2023, +15% YoY
- Digital agency segment: 420 agencies, 35% of total industry players Vietnam 2023
- GroupM Vietnam total billings 420 million USD 2023
- Leo Burnett Vietnam awards won: 25 in 2023, revenue 120 million USD
- Media buying agencies market share: 55% controlled by top 5 in Vietnam 2023
- New agency startups: 95 launched in 2023 Vietnam, focused on e-commerce
- Publicis Groupe Vietnam revenue 250 million USD 2023
- Creative agency billings average 15 million USD per firm Vietnam 2023
- Omnicom Vietnam operations revenue 200 million USD 2023
- Agency employee salary average 1,200 USD/month in HCMC 2023 Vietnam ad industry
- WPP Vietnam billings 380 million USD 2023
- Full-service agencies: 320 in Vietnam, 28% revenue growth 2023
- In-house agency trend: 15% of brands shifted, saving 20% costs Vietnam 2023
- BBDO Vietnam revenue 95 million USD 2023
- Agency merger/acquisitions: 12 deals totaling 50 million USD Vietnam 2023
- Boutique creative shops: 180, average revenue 8 million USD Vietnam 2023
- Vietnam ad agency export services: 45 million USD revenue 2023 to ASEAN
- Top agency client retention rate: 85% average Vietnam 2023
- Digital-first agencies billings up 25% to 750 million USD Vietnam 2023
Agency & Player Landscape Interpretation
Amidst a bustling field of 1,250 agencies, the Vietnam advertising industry tells a classic tale of David and Goliath, where a handful of giants feast on nearly half the market while a scrappy, digital-savvy army of newcomers buzzes at their heels, all trying to catch the eye of a clientele that's increasingly tempted to just do it themselves.
Digital & Online Advertising
- In 2023, digital advertising accounted for 52% of Vietnam's total ad spend, totaling 1.48 billion USD out of 2.85 billion USD overall
- Vietnam's online ad market grew 28.5% YoY in 2023 to 1.5 billion USD, led by social media platforms
- Social media ad spend in Vietnam reached 850 million USD in 2023, 57% of digital total
- Programmatic advertising in Vietnam surged 35% to 420 million USD in 2023
- Video ad revenue online hit 320 million USD in 2023, up 42% YoY in Vietnam
- Search advertising spend in Vietnam: 280 million USD in 2023, 19% growth, dominated by Google
- E-commerce ad spend within digital reached 650 million USD in 2023, 43% YoY increase
- Mobile ad expenditure in Vietnam totaled 1.1 billion USD in 2023, 73% of digital ads
- Influencer marketing digital spend: 150 million USD in 2023, up 50% YoY
- Display ad revenue online: 210 million USD in 2023 Vietnam, 25% growth
- OTT/CTV ad spend in Vietnam: 95 million USD in 2023, 60% increase
- Retail media networks ad revenue: 180 million USD in 2023 Vietnam digital
- Digital ad CAGR 2023-2027 projected at 22% to 3.2 billion USD in Vietnam
- Facebook ad spend share in Vietnam digital: 45% or 675 million USD in 2023
- TikTok ad revenue Vietnam 2023: 320 million USD, fastest growing platform
- Google ad platform spend in Vietnam: 520 million USD digital in 2023
- Native advertising online: 110 million USD in 2023 Vietnam, 30% YoY
- Audio digital ads (podcasts/Spotify): 45 million USD Vietnam 2023
- Gaming in-game ads revenue: 75 million USD in Vietnam 2023 digital
- Connected TV ad spend digital: 120 million USD up 55% in 2023 Vietnam
- Email marketing digital spend: 35 million USD Vietnam 2023
- Affiliate marketing revenue digital: 90 million USD in 2023 Vietnam
- DOOH (digital out-of-home) ads: 60 million USD Vietnam 2023, 40% growth
- Social commerce ads spend: 410 million USD in Vietnam digital 2023
- YouTube ad revenue Vietnam: 180 million USD 2023
- Zalo ad platform spend: 140 million USD digital Vietnam 2023
- Shopee/Lazada combined ad revenue: 480 million USD Vietnam 2023 digital
Digital & Online Advertising Interpretation
Vietnam's ad industry is sprinting towards a digital future, with social media leading the charge and everyone—from TikTok stars to e-commerce giants—grabbing for their piece of a rapidly growing 1.5 billion dollar online pie.
Market Size & Revenue
- Vietnam's total advertising market size reached approximately 2.85 billion USD in 2023, reflecting a compound annual growth rate (CAGR) of 11.2% from 2019 to 2023
- Advertising expenditure in Vietnam grew by 14.7% year-over-year in 2022, totaling 2.5 billion USD, primarily fueled by post-pandemic recovery
- The Vietnam ad market is projected to hit 3.6 billion USD by 2027, with a forecasted CAGR of 10.8% from 2024 onwards due to rising GDP per capita
- In Q4 2023, quarterly ad spend in Vietnam surged 16.2% to 750 million USD, driven by holiday campaigns
- Vietnam's ad market share of GDP stood at 1.2% in 2023, up from 0.9% in 2020, indicating maturing industry
- Total media ad spend in Vietnam was 1.95 billion USD in 2021, recovering 105% from 2020 pandemic lows
- By 2025, Vietnam ad market expected to grow to 3.2 billion USD, with 15% annual increase attributed to e-commerce boom
- Ad revenue in Vietnam increased 13.4% to 2.1 billion USD in 2020 despite global downturn
- Vietnam's advertising industry contributed 0.8% to national GDP in 2022, equating to 2.4 billion USD in value terms
- Forecasted ad market expansion to 4.1 billion USD by 2028 at 12% CAGR, led by urban consumer spending
- In 2023, Vietnam ad spend per capita reached 28 USD, doubling from 14 USD in 2018
- Total ad investment grew 18.5% YoY in H1 2023 to 1.3 billion USD
- Vietnam's ad market valued at 2.7 billion USD in 2022, with 20% growth from digital transformation
- Projected 11.5% growth in 2024 ad spend to 3.1 billion USD
- Ad expenditure hit 2.9 billion USD in 2023, 15% above pre-pandemic levels
- Vietnam ad industry revenue CAGR 2018-2023 was 12.3%, reaching 2.8 billion USD
- Q1 2024 ad spend rose 17% to 780 million USD YoY
- Total 2021 ad market was 2.2 billion USD, up 22% from 2020
- By 2026, ad spend projected at 3.5 billion USD with 13% CAGR
- 2023 ad market growth of 14.2% to 2.85 billion USD confirmed by industry audit
- Ad spend as % of retail sales in Vietnam: 2.1% in 2023 (2.6 billion USD equivalent)
- Vietnam's 2022 ad revenue totaled 2.45 billion USD, 16% YoY increase
- Forecast 2025 ad market: 3.4 billion USD at 11.9% growth rate
- H2 2023 ad spend: 1.45 billion USD, up 15.3%
- Cumulative ad growth 2020-2023: 45%, reaching 2.82 billion USD
- 2024 projected ad spend: 3.15 billion USD, 12.7% growth
- Vietnam ad market 2019 baseline: 1.95 billion USD
- 2023 ad spend inflation-adjusted growth: 11.8% to 2.75 billion USD
- Ad market valuation Q3 2023: 720 million USD, +18% YoY
- Long-term projection 2030: 5.2 billion USD at 11% CAGR from 2023
Market Size & Revenue Interpretation
Vietnam’s ad industry isn't just growing—it’s staging a full-scale economic takeover, one holiday campaign and e-commerce click at a time.
Traditional Media Advertising
- Vietnam TV advertising spend totaled 850 million USD in 2023, representing 30% of total ad market
- Print media ad revenue in Vietnam declined 8.2% to 180 million USD in 2023
- Radio advertising spend Vietnam 2023: 95 million USD, stable at 3.3% market share
- Out-of-Home (OOH) traditional billboards: 220 million USD Vietnam 2023, up 5%
- Newspaper ad revenue: 120 million USD in Vietnam 2023, down 12% YoY
- Cinema advertising spend: 35 million USD Vietnam 2023, recovering 25% post-COVID
- Magazine ad spend Vietnam: 60 million USD 2023, 15% decline
- TV ad share dropped to 29.8% in 2023 from 42% in 2019 in Vietnam
- Billboard OOH inventory utilization 72% in urban Vietnam 2023, generating 150 million USD
- Prime-time TV ad rates increased 10% to average 5,000 USD per 30s spot in HCMC 2023
- Transit advertising (bus/metro) spend: 45 million USD Vietnam 2023
- Direct mail traditional ads: 25 million USD Vietnam 2023, down 20%
- Sponsorships in traditional media events: 110 million USD Vietnam 2023
- VTV national TV ad revenue: 420 million USD in 2023 Vietnam
- HTV local TV spend share: 180 million USD 2023
- Print classified ads revenue: 40 million USD Vietnam 2023 decline
- Traditional media total ad spend: 1.37 billion USD Vietnam 2023, down 2% share
- OOH digital-hybrid growth 18% but traditional OOH still 75% at 165 million USD 2023
- Radio listenership ad-supported: 28% of adults daily, 95 million USD spend Vietnam 2023
- Cinema screen ad impressions: 150 million, revenue 35 million USD Vietnam 2023
- Yellow pages/directories print: 15 million USD Vietnam 2023, sharp 30% drop
- TV news ad slots: 40% of airtime revenue source, 200 million USD Vietnam 2023
- Regional TV ad spend Hanoi: 120 million USD 2023
- Print fashion magazine ads: 25 million USD Vietnam 2023
- Traditional sponsorship TV shows: 80 million USD Vietnam 2023
- Billboard prime locations HCMC: 100 million USD revenue 2023
Traditional Media Advertising Interpretation
Television remains the indisputable king of the Vietnamese ad spend, though its crown has notably slipped, while print media continues its melancholy retreat and OOH billboards stand their ground, proving that sometimes the old ways still know how to shout the loudest in a crowded market.
Trends & Consumer Insights
- 72% of Vietnamese consumers aged 18-34 engage with ads daily via social media in 2023
- Brand trust from ads in Vietnam: 68% for digital vs 45% traditional in 2023 survey
- 55% of Vietnam urban millennials prefer video ads under 15 seconds, 2023 study
- Ad avoidance via blockers: 28% penetration among internet users Vietnam 2023
- Sustainability-themed ads resonate with 62% of Gen Z in Vietnam 2023
- 81% of Vietnamese shopped via ads-driven e-commerce in past month 2023
- Personalized ads click-through rate 3.2x higher than generic in Vietnam 2023 tests
- 47% of consumers share user-generated content ads on social Vietnam 2023
- Voice search ad engagement up 40% among 25-34s Vietnam 2023
- 65% prefer shoppable Instagram ads in Vietnam, conversion rate 12% 2023
- AR/VR ad trial willingness: 59% of urban youth Vietnam 2023 survey
- Livestream shopping ad-driven sales: 2.5 billion USD Vietnam 2023
- 73% of females 18-24 influenced by KOL ads Vietnam 2023
- Ad recall from TikTok: 76% vs 52% TV in Vietnam youth 2023
- Privacy concerns lead 39% to ignore targeted ads Vietnam 2023 poll
- 58% of rural consumers now access digital ads via 4G Vietnam 2023
- Humor in ads boosts purchase intent by 34% Vietnam 2023 experiments
- Cross-device ad consistency preferred by 71% Vietnam users 2023
- 49% boycott brands with controversial ads Vietnam 2023 backlash study
- Gaming ads engagement time avg 4.2 min/session Vietnam gamers 2023
- 67% trust peer reviews over brand ads Vietnam e-com 2023
- Short-form video ads retention 85% at 6s mark Vietnam 2023
- 54% of 35-44s respond to email ads weekly Vietnam 2023
- Local language ads outperform English by 2.8x CTR Vietnam 2023
- 62% Gen Z seek authentic brand stories in ads Vietnam 2023
- Omnichannel ad exposure lifts sales 28% Vietnam retail 2023
- 76% smartphone users click mobile ads impulsively Vietnam 2023
- Nostalgia-themed ads appeal to 48% over-45s Vietnam 2023
Trends & Consumer Insights Interpretation
In Vietnam's advertising landscape, the young, digital-savvy majority demands authenticity, brevity, and humor, rewarding brands that earn their trust with clicks and sales while harshly punishing those that miss the mark with indifference or boycott.
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