Global adspend rising – but growth slows

LONDON, Wednesday: Global advetising spend is on course to rise by 8.3% – or $ US67.3bn – to $ 880.9bn this year, lifted by a positive first half for holding companies and a boost from cyclical events in the second half, most notably the US midterm elections and the men’s FIFA World Cup in Qatar this November.

The predictions were today published in WARC’s Ad Spend Outlook 2022/23: Impacts of The Economic Slowdown.

The latest forecast is based on data from 100 markets worldwide.

“WARC has downgraded its expectations for global ad market growth for this year and next.”

Key findings include:

• Global advertising investment is forecast to rise 8.3% this year to a total of $ 880.9bn, before slowing to 2.6% growth in 2023.
• Very few product sectors are cutting ad investment, with the majority set to increase spend this year and next.
• WARC has downgraded its expectations for global ad market growth by $ 90bn for this year and next. Within this, Apple’s privacy push is set to cost online players $ 40bn over the forecast period, with the majority of these losses seen at social media companies.
• AVOD is expected to rise 8.0% this year and a further 7.6% in 2023 to reach a value of almost $ 65bn.
• Global ad trade remains on course to top $ 1trn in 2025.

More here