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Advertising Industry: Difference between revisions
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=== Magna Forecast <ref>https://magnaglobal.com/traditional-media-resilient-through-economic-uncertainty-social-media-stalls-under-headwinds/</ref> === | === Magna Forecast <ref>https://magnaglobal.com/traditional-media-resilient-through-economic-uncertainty-social-media-stalls-under-headwinds/</ref> === | ||
The winter update of MAGNA’s “Global Ad Forecast” predicts media owners advertising revenues will reach $833 billion in 2023, +5% growth vs. 2022 ($795bn), slowing from +7% in 2022. | The winter update of MAGNA’s “Global Ad Forecast” predicts media owners advertising revenues will reach $833 billion in 2023, +5% growth vs. 2022 ($795bn), slowing from +7% in 2022. | ||
The new 2023 growth forecast is 1.5 percentage point below MAGNA’s previous global forecast (published in June 2022) due to a deteriorating macroeconomic outlook. MAGNA’s June forecast was based on a global economic growth expected at the time to reach +3.6% in 2023 (real GDP forecast from IMF WEO April 2022) but that expectation was since cut down to +2.7% in the latest IMF update (WEO October 2022). | |||
The US market growth rate will be below average in 2023 (+4% to $330 billion) due to weak demand (GDP growth under 1%) and the lack of cyclical ad spending. | |||
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=== Advertising behavior during recession === | === Advertising behavior during recession === | ||