Winterberry Expects Advertising and Marketing Spend to Top $500 Billion in 2023
Destination CRM covered our latest report, The Outlook for Advertising, Marketing and Data 2023, citing our ad spend estimates for 2023.
“Despite the anticipated economic downturn, management consulting firm Winterberry Group expects U.S. advertising and marketing spend to top $500 billion this year.
This year Winterberry Group predicts that advertisers will spend an estimated $509.2 billion, an increase of 5.89 percent from 2022's $480.8 billion. Of the total, the firm expects more than 60 percent ($307.3 billion) to be spent on online channels, with the greatest growth on channels that include connected TV (CTV), digital out-of-home (DOOH), and influencer marketing. CTV is expected to grow 27 percent, while DOOH and influencer channels are growing at rates of 10 percent and 17.5 percent, respectively.”