The bad news is that global advertising growth slowed in the first half of 2023, due to rising inflation and adjustments to consumer behaviors brought on by the pandemic. The good news is that growth will resume in the second half.
According to the mid-year forecast by media investment company GroupM, ad spending is ultimately to increase by 5.9 percent to $874.5 billion.
Growth is expected to be generated by the automotive sector. Connected TV ad revenue will increase by 10.4 percent from 2023 to 2028 on a compound annual basis to $42,5 billion. However, digital advertising’s expected growth is 8.4 percent in 2023, but still will account for 68.8 percent of total global ad revenue.
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