Advertising spending in Kenya experienced a notable increase, rising by Sh1 billion to reach Sh17 billion in the second quarter of 2024, according to the latest audience measurement and industry trends report released by the Communication Authority of Kenya (CA).
This increase represents a 21 percent growth in overall industry spending during the 2023/24 fiscal year.
“Overall industry spending increased by 21%. The total spending grew from Kes 16 billion in Q1 2023/24 to Kes 17 billion in Q2 2023/24,” the report stated.
However, spending dipped to Kes 15 billion in Q3 2023/24. By the fourth quarter of 2023/24, spending surged to Kes 18 billion, with the most significant growth observed in the property, building, and accommodation sectors.
The CA emphasized that the growth in the property, building, and accommodation sector underscores its crucial role in driving the overall industry’s performance.
This growth follows the Affordable Housing program launched by President William Ruto earlier this year. In March, the President signed the Affordable Housing Bill into law, marking a significant milestone in the housing project and initiating the collection of a 1.5 percent housing levy from Kenyans.
This initiative has likely spurred increased advertising in the property, building, and accommodation sector.
Television emerged as the dominant medium for advertising, capturing the largest share of spending, with radio following closely behind as the second-highest spending medium.
