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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> === | ||
MAGNA 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 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). | ||
In 2023, the growth rate of the US market is expected to be below average at +4%, reaching a total of $330 billion, due to weak demand as GDP growth is predicted to be under 1% and a lack of cyclical advertising spending. | |||
[[File:Global ad.PNG|thumb|https://magnaglobal.com/traditional-media-resilient-through-economic-uncertainty-social-media-stalls-under-headwinds/]] | [[File:Global ad.PNG|thumb|https://magnaglobal.com/traditional-media-resilient-through-economic-uncertainty-social-media-stalls-under-headwinds/]] | ||
* Cross-platform television ad revenues grew by +1.7% in 2022 to $172 billion but will decrease by -4% in 2023 | * Cross-platform television ad revenues grew by +1.7% in 2022 to $172 billion but will decrease by -4% in 2023 | ||
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* MAGNA anticipates social media advertising to re-accelerate only slightly in 2023 (+7%) | * 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. | * Digital Video advertising will increase by +11% in 2023 to reach $65 billion. | ||
=== Zenith Forecast<ref>https://www.zenithmedia.com/zenith-forecasts-4-5-growth-for-2023-after-7-3-uplift-in-2022-marking-continued-healthy-growth/#:~:text=Zenith%20estimates%20that%20advertising%20on,are%20likely%20to%20follow%20suit.</ref> === | |||
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