Global ad spend is set to reach US$880.9 billion this year – a rise of 8.3% or US$67.3 billion, according to WARC’s “Ad spend Outlook 2022/23: Impacts of The Economic Slowdown” report.
In June 2022, monthly ad spend evolution entered negative year-over-year growth territory for the first time this year, shifting down -3% vs. last year, according to data from Standard Media Index.
Upfront spending is flowing toward streaming services. In fact, according to eMarketer, upfront CTV ad spending in the United States will grow by 34.6% to US$6.41 billion this year.
While traditional television ad spending in the UK will struggle for growth in the coming years, digital video will not, eMarketer said in its latest report.
People in Southeast Asia are spending more time online. As a result, digital ad spending in the region will grow by 11.3% to $4.10 billion in 2022, following a phenomenal 17.8% growth rate in 2021, eMarketer revealed.