Latest ad report shows slowed growth
The good news in the ad marketplace, for the moment, is that growth is still expected for the balance of the year, according to Dentsu’s latest report on ad spending for 2023 and beyond. The less good news is that not only is the growth going to be more modest than was initially expected of this year, most of the growth derives from inflation, not from actually increases in ad spend.
Dentsu’s Global Ad Spend Forecast 2023, which was publicly released earlier today and authored by the CEO of Dentsu Media International Markets, Peter Huijboom, shows a reduction in ad-spend growth globally, and in digital advertising — the latter representing the single largest chunk of ad dollars being spent in the media marketplace.
Global advertising is expected to grow to $727.9 billion, a somewhat anemic 3.3% over 2022, and down from 3.5% that had been forecast last December by Dentsu. Back then, total ad spend was forecast to hit nearly $741 billion.
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