Global adspend to top US$1trn for first time next year

LONDON, Today: Global advertising spend is on course to grow 4.4% this year to a total of US$ 963.5bn, according to data released this morning by WARC.

In 2024 global adspend is forecast to grow a further 8.2% by when expenditure will have topped $ 1trn for the first time.

The US accounts for 31.3% of global spend.

“High interest rates, spiralling inflation, military conflict and natural disasters have made a bitter cocktail – but the new data shows the ad market has withstood this turbulence and has turned a corner.”

NZ recorded $ 2.112bn last year, and is on track to reach $ 2.182 in 2024.

James McDonald, director of data, intelligence and forecasting at WARC said: “High interest rates, spiralling inflation, military conflict and natural disasters have made for a bitter cocktail over the preceding 12 months, but the latest earnings season shows that the ad market has withstood this turbulence and has now turned a corner.”

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