Ad spending forecast to grow 6% in 2023 as digital priorities shift
Marketing Dive covered our new research, Outlook for Advertising, Marketing and Data 2023, citing our ad spend forecasts for 2023.
“The Winterberry Group’s report pushes back against some of the grimmer trends seen in the second half of 2022, when the industry began losing steam. Inflation and economic woes have put a strain on the industry, leaving some in fear of what 2023 will hold. While digital growth is likely to decelerate in the months ahead, overall it will remain strong, with certain sectors expected to see significant growth, per the report.
Investment shifts within the digital advertising sector are not surprising, given the momentum behind CTV, digital out-of-home and influencer marketing. While CTV is leading the digital growth pack, digital-out-of-home channels are expected to grow 10% while influencer channels are expected to grow 17.5%.”