has released a forecast for future advertising spending, reporting that the global market will grow by just 8.7%, with growth forecast at -0.4% in 2022 as a result of economic headwinds. A decrease of 0.4% from its January forecast.
This is Dentsu’s latest semi-annual Global Ad Spending Forecast , which combines data from nearly 60 markets globally, and anticipates global ad spend of $738.5 billion by July this year.
The review is about the outlook for advertising investment in the United States and the rest of the world this year, “in order to better reflect international advertising investment trends and forecasts,” the agency reports.
The ad network remains optimistic for its July outlook despite the Ukraine war and rampant inflation, and is united arab emirates number data projecting steady ad growth for the next two years.
, before increasing further to $778.6 billion next year.
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Optimism from Dentsu
Dentsu International CEO Peter Huijboom said: “Even with everything that has happened in recent months, not least the prolonged war in Ukraine and its international repercussions, the recovery in advertising remains robust on a global scale. And, despite factors such as inflation putting pressure on household budgets, combined with 2021 being a difficult comparative year, we have only marginally revised down our growth forecast for 2022 by just 0.4 percentage points.”
“Despite global economic uncertainty, brands continue to prioritize their spend on channels that provide them with both the digital flexibility and return they seek. It is through our clear and robust market insight and understanding that we can work with clients to navigate what’s next and partner with them on their future investment,” he clarifies.
Digitalization of traditional media
The FIFA World Cup is expected to see TV growth of 3.6% to $192.8 billion. Within this, linear TV is up 2.0%, CTV is up 22.3% and video on demand is up 16.0% as audiences shift to digital platforms.
In terms of industry, the largest growth is expected in the Technology sector (+11.3%), which has benefited from people's greater dependence on digital devices and the workplace.