Expect to see a good scatter market following the upcoming Upfronts. The overall outlook is good since the advertising spending is set to grow, but the windfall is expected to be later in the year, when the TV networks save their inventory for the scatter market.
According to Magna, Interpublic’s media intelligence unit, U.S. advertising is expected to grow in 2023 despite mixed economic signals. Reportedly, Magna expects little growth in the first half of the year, followed by a recovery in the second half, as the economy becomes more stable.
Overall, U.S. ad revenue is expected to grow by 3.4 percent this year, a bit down from an early estimated growth of 3.7 percent, but still good, with automotive ad spending expected to rebound after a difficult year in 2022 due to economic concerns and supply constraints. Outside advertising, which includes billboards, is seen growing 6 percent.
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