Global Advertising: new twists are needed

Last year, the advertising segment had an upgrade but due to global economic uncertainty and the problems affecting advertising formats, since its second semester, the growth of advertising spending has slowed significantly. Macroeconomic conditions continue deteriorating and advertisers analyze their budgets while they reduce the spending on some channels more than others.

Some consultancy firms think that this 2023, advertising once again will face a turbulent year and according to their forecasts, the investment will be slower than originally expected: Global advertising investment will grow by 3.8% to reach USD 740.000 million, and despite the economic slowdown that is facing the world economy, in 2024 a 4.8% is expected.

GroupM studied 58 markets and indicated that digital spending will continue to lead with 57.1% reaching USD 422.800 million by the end of this year. These figures will be supported by the increase in channels such as video (+7.1%), paid social networks (+13.5%), search (+7.2%), and retail media (+22 %). Television advertising investment will increase by 0.2% to reach USD 182.700 million; external advertising will do so by +2%; cinema by +6.1%; and audio by +2%. Newspapers and magazines will continue to decline with a forecast of -3.6% f this 2023.

‘This Year Next Year’ report from GroupM also ensures that 2023 global advertising will grow 5.9% with great profits in connected