The Media Minute 9.6.23

Trillion In ’24: Global Ad Spend To Enter Four Comma Club

It’s probably more than just the extra Leap Day that will push it over this threshold, but according to the World Advertising Research Center, 2024 will be the year when global advertising spend surpasses $1 trillion. Surveying media industry organizations in 100 worldwide markets and analyzing revenue data from the largest media owners, WARC foresees a 8.2% boost from 2023’s ad spend of $963.5 billion.

U.S. Ad Market Climbs 6.2% In July

After dipping slightly in June, the U.S. Ad Market Tracker posted its biggest gain in monthly U.S. ad spending since April 2022. July ad spending by the major U.S. ad agencies pooling their data in the index rose 6.2% over July 2022, which was down 8.2% from July 2021.

Billboards Claim The Largest Share Of U.S. Programmatic OOH Ad Spend
The largest share of US programmatic out-of-home (OOH) ad spend went to billboards (41%) in H1 of this year, followed by screens and TVs (24%) and display panels (14%), according to Place Exchange.

The 2023 CMO State of the Union
2023 has proven to be the year of radical change in marketing. Cookies are being phased out, AI is becoming more integrated, and tight markets means more trips to the CFO’s office to scrutinize the budget. To top it off, traditional paid channels are getting more expensive and aren’t converting like they used to, leaving CMOs wondering where exactly growth will come from in the next 12 months and beyond. So, what’s a marketer to do?

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