Panama is experiencing significant growth in digital advertising, with connected TV (CTV) ad spend reaching approximately USD 45.2 million in 2026. The surge is driven by increasing smart TV ownership, which now accounts for 78% of households, fostering targeted advertising opportunities. Mobile advertising remains dominant, capturing 65% of the digital ad budget, reflecting the country’s high mobile device usage.
This digital shift is supported by Panama’s internet penetration rate of 88%, facilitating widespread access and engagement with online content. As digital infrastructure improves, businesses are investing more in multi-channel campaigns, with total digital ad revenue expected to hit USD 120.5 million, indicating a maturing digital marketing landscape that aligns with regional trends.