Advertising spend is still growing, and advertisers are spending differently.
The shift to digital seen over the past 20 years is continuing and while some categories like luxury love what the unique feel and look of magazines can offer, for example, the growth in spend is almost exclusively in digital formats, including digital out of home (DOOH) and Connected TV.
dentsu Ad Spend Report: December 2022
The latest dentsu ad spend forecasts show global growth of 8.0% in 2022, with the advertising market reaching US$713.6billion, up US$53.0billion, building on record growth in 2021, which was 19.8% higher than 2020 as activity returned with the easing of Covid-19 restrictions.
2023 is likely to be slower, at 3.8% growth, before rising again to 4.8% in 2024.
Advertising Spend Key Points
Within digital media., we seem to have come at another turning point, where existing players like social media platforms are being challenged by rivals that may be more appropriate for our times.
The macroeconomic picture has created the perfect conditions for exponential growth in retail media, where ads are placed on commerce platforms like Amazon and Walmart.
Marketers are taking more interest in Attention - the engagement that advertising receives across many platforms, rather than just whether it is viewable. Studies show that this attention correlates with the impact of campaigns , and the anticipated pressure on budgets should lead more to look at this area to ensure that their budgets work as hard as possible
Download now Ad Spend Report - December 2022 from dentsu.
