3,882
edits
Advertising Industry: Difference between revisions
→Magna Forecast [1]
| Line 4: | Line 4: | ||
MAGNA predicts media owners advertising revenues will reach $833 billion in 2023, +5% growth vs. 2022 ($795bn), slowing from +7% in 2022. | 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. | 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. | ||