GroupM's 2022 Forecast Is Rosier Than Expected, but Not Great

Ad spend is decelerating, but still grew 6.5% globally

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Excluding U.S. political advertising, advertising revenue grew by 6.5% in 2022, according to WPP media investment arm GroupM’s 2022 year-end “This Year Next Year” forecast. The U.S. market fared better than the global market this year, with 7.1% growth and $305 billion in revenue.

The numbers don’t indicate economic prosperity by any means. In fact, they’re lower than expected, considering GroupM’s June mid-year forecast had projected ad spend would grow by more—8.4%—in 2022. But deceleration is not the same as decline, and the projection places the advertising industry in a reasonably healthy position amidst an economic downturn.

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