Global advertising spend is set to rise by 8.3% in 2022, according to recent research from WARC. However, the forecast for 2023 is only 2.6% due to cooling economic conditions and third-party cookie-blocking. Four product sectors are expected to actually cut spend in 2023: transport and tourism, alcoholic drinks, financial services, and automotive.
Social media ad spend is projected to grow by 11.5% in 2022 and 5.2% in 2023. Video streaming is predicted to outpace the total ad market for both years, with an 8.4% growth in 2022 and 7.0% in 2023. TikTok is forecast to see a 41.5% increase in spend in 2023, whereas Facebook is projected to see a 8.6% decline.
The report was based on data from 100 ad markets worldwide. It is important to note that these projections may change depending on the impact of the global pandemic.
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Global Ad Spend Forecast for 2023: A Slowdown Ahead
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