German Ad Spend: Still Rising, But Cautiously

ZAW expects net advertising revenues of €27.5 billion, up 3.2% from 2024. Total advertising investments could reach €39.1 billion, bringing the overall market to €50.7 billion – a modest 1.8% increase. “We see growth, but the rates are significantly lower. Companies are acting more cautiously and focusing on efficiency,” says Bernd Nauen, ZAW’s CEO.

ZAW Index Ad-Market Germany Business Sentiment (Image: ZAW/invidis)

Digital Drives, Traditional Stalls

Digital channels remain the main growth engine, but most gains are concentrated among global platforms like Instagram, Amazon, and Google. Traditional advertising, by contrast, is stagnating or even declining – a sign of structural divergence within the industry and the impact of broader economic headwinds.

Regulation Adds Pressure

Beyond macroeconomic factors, ZAW points to political regulation as a key challenge. Advertising bans, stricter data protection rules, and new EU directives are increasing compliance costs. “Advertising is a central driver of media diversity and consumption. Additional restrictions threaten not only the advertising industry but also the financing of independent media,” warns Nauen.

DooH: Strong Start, Mixed Finish

For Digital Out-of-Home (DooH), the picture is mixed. After a strong first half of 2025, the third quarter proved challenging – though October showed a clear rebound, according to Nielsen data. The question for 2026: will DooH maintain its growth trajectory amid tightening budgets and regulatory uncertainty?