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 Uruguay, the Ad World Masters Agencies of the Year competition features 1 Silver, and 2 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 Uruguay
The advertising market in Uruguay is valued at around USD 300 million in 2021. The market is dominated by television and digital advertising, with digital making up a significant portion of the total ad spend. The most popular digital channels are social media and search engines.
There are several notable advertising agencies in Uruguay, such as Young & Rubicam, Ogilvy, and McCann. These agencies work with clients in a variety of industries, including fast-moving consumer goods, telecommunications, and financial services.
E-commerce has been growing rapidly in Uruguay, with online sales expected to reach USD 2 billion in 2022. This growth has led to an increase in digital advertising for online retailers, such as MercadoLibre and Linio.
There are several major media houses in Uruguay, such as América TV and Teledoce, which own multiple television and radio stations, as well as digital platforms, such as websites and mobile apps, which provide additional advertising opportunities.
According to a study by eMarketer, in 2020, the digital advertising market in Uruguay reached USD 120 million, with mobile advertising accounting for more than half of total digital ad spend.
In 2020, the most popular category in the digital advertising market was e-commerce (27%), followed by entertainment and media (26%) and services (11%).
In 2021, the advertising market in Uruguay is expected to grow by 5%, driven by an increase in digital advertising, in particular, mobile advertising, and e-commerce.
The most popular digital advertising formats in Uruguay are display and video ads, with search and social media ads also being popular among advertisers.
In terms of social media, Facebook is the most popular platform, followed by YouTube and Instagram.
According to a survey by IAB Uruguay, in 2020, the most effective digital advertising formats were social media ads, followed by video and display ads.
The most popular ad formats on mobile devices are interstitial, native, and video ads.
In 2021, Uruguay’s digital advertising market is expected to exceed USD 130 million.
In Uruguay, digital advertising is primarily used by companies in the retail, automotive, and telecommunications sectors.
According to a survey by IAB Uruguay, 80% of companies in Uruguay have used digital advertising in the past 12 months, while 55% plan to increase their digital ad spend in the next year.
The most popular online advertising formats in Uruguay are display and video ads, with search and social media ads also being popular among advertisers.
In Uruguay, programmatic advertising is becoming increasingly popular, with programmatic ad spend expected to reach USD 25 million in 2020.
According to a survey by the Interactive Advertising Bureau of Uruguay (IAB Uruguay), in 2020, the share of digital advertising in total ad spend was 40%.
The most popular categories in the digital advertising market in Uruguay were e-commerce, automotive, and entertainment and media.
In 2021, the Internet audience in Uruguay reached 3.5 million people, with social media platforms such as Facebook, Instagram and YouTube being the most popular among users.
Overall, the advertising market in Uruguay is relatively small but it is expected to grow in the coming years, driven by an increase in digital advertising. Traditional media still makes up the majority of ad spend, however, digital advertising is becoming increasingly popular, particularly on social media platforms. The most popular digital channels are social media and search engines, and the most popular ad formats are display and video ads. E-commerce is also growing rapidly in Uruguay, providing new opportunities for digital advertising.