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For most marketers and advertisers, 2023 was a strangely challenging year. Advertising spend continued to decelerate, and even decline, in some depressed categories like linear TV. Spooked, and fearful of marketers tightening their purse strings yet again, a lot of agencies resorted to layoffs. Meanwhile, several accounts went into review.
It’s been a tragic year for WPP’s GroupM in the U.S., characterized by large losses like Kimberly-Clark, General Mills, Uber and Shell, despite the group’s success winning business abroad.
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