Weakened by uncertainty, the economy Product Visionaries does not look too good for the coming years. For this reason. Aware that the current uncertain economic context will not favor advertising investment in 2023 in any way. GroupM has decided to correct its advertising spending forecasts downwards for next year. The WPP subsidiary now predicts that advertising investment will jump by 5.9% in 2023, while six months ago the figure projected by GroupM was 6.4%. According to the “This Year, Next Year ” report, advertising spending will only pick up slightly at the end of next year.
The company Product Visionaries estimates that 2022 will lower the curtain
Its growth forecasts for the year that is about to end. With a growth in advertising spending of 6.5% (ignoring, of course. The investment category email list overlapping the midterm elections held last month in the United States). This is a figure that is substantially below what GroupM predicted six months ago. When the group predicted growth of 8.4%. It is worth noting, however, that the mid-term elections overseas would have attracted an advertising investment of 12.6 billion dollars. 90% more than in the last elections of this nature in 2018. The decline in GroupM’s forecast for the current year is primarily due to lower expectations in the Chinese market.
CTV and “retail media” will drive advertising investment in the coming months
GroupM emphasizes in its report that the corrosive effects emanating from inflation and the war in Ukraine have proven to be more Mobile Lead stubborn than they were six months ago. However, the development of advertising investment varies substantially from one country to another. Only half of the 62 markets under the microscope by GroupM have seen their growth forecasts lowered. While in a third of the countries the forecast has been corrected upwards and in 10 markets no modification has been made to the projections . The growth of advertising investment on a global scale will be supported this year by channels such as connected television (CTV).