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Advertising Industry: Difference between revisions
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* Cross-platform audio ad sales will stabilize at around $17 billion this year. Linear radio ad formats will drop -4%, while digital audio formats (audio streaming, podcasting) will rise +9%. Podcasting will help drive digital audio growth, and grow +16%, though this represents a slowdown compared to MAGNA’s previous forecast of +22% | * Cross-platform audio ad sales will stabilize at around $17 billion this year. Linear radio ad formats will drop -4%, while digital audio formats (audio streaming, podcasting) will rise +9%. Podcasting will help drive digital audio growth, and grow +16%, though this represents a slowdown compared to MAGNA’s previous forecast of +22% | ||
''Magna is using the assumption of Real GDP growth of +1.3% in 2023.'' | ''Magna is using the assumption of Real GDP growth of +1.3% in 2023.'' | ||
=== Dentsu Forecast === | |||
==== May 2023 ==== | |||
“The adjusted for 2023 points to continued growth, albeit adjusted marginally downwards from the 3.5% predicted in the December 2022 report, in the most part due to macroeconomic factors. Exploring behind the headlines, the report also shows '''growth driven by media price inflation rather than increased advertising volume, where advertising spend at constant prices is expected to decline slightly, with –0.6% reduction year on year”'''<ref>https://info.dentsu.com/ad-spend-may-2023-pdf</ref> | |||
* Global advertising spend expected to grow by '''3.3% in 2023 with inflation driving increase to reach US$727.9 billion''' | |||
* Stronger growth ahead, with 2024 global advertising market now expected to increase by 4.7%, to reach US$762.5 billion, with a further 3.8% growth into 2025 | |||
* Digital is projected to settle into almost consistent incremental growth for three years, to account for around $3 in every $5 spent in advertising worldwide. | |||
* '''Social spend is forecast to grow by a 12.8% three-year CAGR''', driven by new platforms, social commerce, and the popularity of short-form video content across platforms such as TikTok and Instagram Reels | |||
=== Zenith Forecast === | === Zenith Forecast === | ||