Learn how the creator economy is transforming the marketing landscape, and how to cultivate partnerships to grow engaged communities at Social Media Week: The Creatorverse, May 16–18 in NY. Register now to secure your early bird pass.
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.