As the year 2023 begins, Ad World Masters is proud to announce its Agencies of the Year. Our rigorous selection process, which assesses the potential value of each agency, has resulted in the recognition of some of the most outstanding and accomplished agencies in the industry.
The selection process is based on the Agency Score, which is calculated using our proprietary Artificial Intelligence Algorithms. Agencies had until December 31st, 2021 to improve their score and compete for the coveted title of Agency of the Year.
The title of Agency of the Year is granted based on the Agency Score and is divided into three levels of recognition: Gold, Silver and Bronze. Gold is awarded to agencies with scores of 9.2 or higher, Silver is awarded to agencies with scores of 8.7 or higher, and Bronze is awarded to agencies with scores of 8.5 or higher. Each awarded agency will receive a digital badge of “Agency of the Year” for the level they are in.
The results of the competition are categorized by country, depending on the agency’s main location. In Panama, the Ad World Masters Agencies of the Year competition features 1 Bronze winners. These agencies represent the very best in the industry and are a testament to the creativity, innovation, and excellence that define the advertising field.
We would like to extend our heartfelt congratulations to all of the winners and thank all of the participating agencies for their dedication and hard work. We look forward to seeing the impact of their work in the coming year and beyond.
Curious to discover the results of other markets? Explore the results per country and learn more about the competition. If you don’t see your agency listed, sign up, list or claim your agency and you could be nominated for next year!
Insights into the advertising industry in Panama
The advertising market in Panama is relatively small, with an estimated value of $360 million. The top advertising agencies in Panama include McCann Worldgroup Panama, Ogilvy Panama, and Grey Panama. Media houses such as Medcom, Telemundo Panama, and TVN Panama also play a significant role in the advertising market.
In recent years, there has been a growing trend towards digital advertising in Panama, with companies in various industries such as e-commerce, finance, and telecommunication increasing their ad spend on digital platforms. The digital advertising market in Panama is expected to continue growing in the coming years, driven by the increasing use of smartphones and internet connectivity.
According to data from IAB Panama, mobile advertising accounts for more than 50% of digital advertising in Panama. The most popular digital advertising formats include display banners, sponsored content, and influencer marketing. Social media advertising platforms such as Facebook, Instagram, and YouTube are becoming increasingly popular among advertisers in Panama.
Data from Statista shows that the retail industry is the largest advertiser in Panama, followed by the telecommunications and fast-moving consumer goods (FMCG) sectors. In terms of media, television remains the most popular advertising medium, followed by newspapers and digital media.
Overall, the advertising market in Panama is expected to continue growing in the coming years, driven by the increasing use of smartphones and internet connectivity. The market is relatively small, but the trend of digital advertising is expected to accelerate in the next few years.