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Advertising Industry: Difference between revisions
→Magna Forecast [1]
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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 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. | 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. | ||
* Cross-platform television ad revenues grew by +1.7% in 2022 to $172 billion but will decrease by -4% in 2023 | |||
* OOH media will complete a full global recovery in 2023 by growing by +6% to 33.5 | |||
* Audio advertising formats expected to have flat ad sales in 2023 (+1%) | |||
* Publishing advertising predicts another decline of -3% for global publishing ad sales in 2023. | |||
* Organic growth factors will generate an additional +10% in global Search spend in 2023. | |||
* MAGNA anticipates social media advertising to re-accelerate only slightly in 2023 (+7%) | |||
* Digital Video advertising will increase by +11% in 2023 to reach $65 billion. | |||
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