U.S. Media Spending Will Grow 6% This Year, With Biggest Gains In CTV
Media Post covered our latest research, Outlook for Advertising, Marketing and Data 2023, citing our U.S. ad spend forecasts.
“The possibility that the U.S. economy will shrink or eke out meager growth this year is weighing on forecasts for media spending. Consulting firm Winterberry Group estimates that total growth in sending will advance by 5.9% this year as continued gains in online advertising will more than offset declines in its offline counterpart.
Online marketing spend will grow almost 11% to $307.3 billion amid gains in every media category. Internet search will be the biggest with about $107.6 billion, which is 9.3% greater than in 2022.”