South Africa’s internet advertising revenue reached R17.8 billion in 2023, according to the IAB South Africa study conducted by PwC and released in September 2024. The report put year-on-year growth at 21.5%, following revenue of R14.6 billion in 2022.
These are historical figures for the 2023 calendar year, not estimates of advertising spending in 2026. Keeping that distinction visible matters when a market benchmark is used in a pitch, budget presentation or investment case.
A larger share of the advertising mix
The study estimated that internet advertising represented 39.8% of South Africa’s overall advertising market in 2023. It described a market stabilising after the unusually strong digital shift associated with the pandemic.
For advertisers, the useful question is not simply whether digital is growing. It is whether a particular campaign reaches the right customers at an acceptable cost. A growing sector can still contain expensive inventory, wasted impressions and weak conversion performance.
Reading the benchmark responsibly
The report draws on a survey of major agencies and brands, cross-checked with research inputs. Revenue is reported on a net basis, after commissions and discounts. That means a company’s gross campaign invoice is not automatically comparable with the study’s market totals.
Analysis: Use the benchmark to understand the direction and historical scale of the industry, then combine it with current campaign results, customer economics and more recent research. Market growth should inform a budget discussion, not replace evidence that the advertising actually works.
Source
IAB South Africa / PwC: Internet advertising revenue report, 2023 study, September 2024.