The World Federation Of Advertisers issued its latest “WFA Outlook” report today projecting year over year global media inflation of around 4% for both 2025 and 2026.  

The key takeaway, per the organization is that “advertisers face sustained, embedded media inflation, with the new 4% global trendline signaling that the global media economy has settled into a new normal of moderate but persistent inflation, mirroring the wider economy.” 

That said, results vary by region. 

The study found that media inflation is moderating at around 3% to 4% in the US, 3% in the UK, and 4% to 5% across Western Europe. Poll respondents said those averages were due to a “more cautious advertiser stance and gradual efficiency gains in digital media buying.” 

In emerging markets, inflation trends are higher, according to the report. Eastern Europe (11%) and India (9%) are seeing the steepest price growth, echoing strong GDP expansion and currency volatility. Inflation there is being driven less by supply scarcity and more by rising audience value and domestic advertiser demand.  

While broadcaster video-on-demand (BVOD) commands the strongest price inflation of any channel (around 5% per year), prices for connected TV are almost flat. The report found that supply is still running ahead of demand, and even in the US (the most mature CTV market) price increases are moderate. 

Buyers are still willing to pay a premium for trusted, curated broadcaster environments that combine reach with measurement confidence, per the report, while CTV’s fragmented, programmatic supply is dampening its pricing power.  

Linear TV inflation remains around 5%, though in many countries this is due to the steady erosion of viewing.  

Digital channels are no longer the deflationary force they once were. Paid search, social video, and retail media are all inflating in line with the global average, “showing that any further pivots to digital channels may not deliver inflation relief,” the WFA concludes. 

Europe remains the most bifurcated region: Northern markets steady while Eastern market prices are surging. In the Asia Pacific region, inflation is steady in Japan but accelerating in India and Hong Kong.  

“Embedded media price inflation requires advertisers to constantly find new ways to make their ad budgets work harder” stated om Ashby, Global Lead, Media Services at WFA.  

WFA Outlook is published twice a year in April and October and is based on forecasts from market leaders across the global media industry, including executives from Dentsu, Havas, Magna (IPG), Publicis, Omnicom, the7stars, Cortex, Ebiquity and Mediasense. 

The latest report covers 42 markets and for the first time breaks out estimates for Saudi Arabia and UAE adding coverage of two of the world’s fastest-growing markets. 

The full report is for WFA members only.