Global Ad Market Continues to Grow Despite Traditional Media Struggles

New Magna forecast shows TV advertising facing uphill battle due to continued erosion of linear

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The global ad market will continue to grow in 2023, though traditional media formats have seen better days.

Just ahead of Cannes Lions, Magna is releasing the summer update to its Global Ad Forecast, showing advertising revenues will reach $842 billion, a 4.6% growth over 2022 ($805 billion). According to Magna, though Western markets are facing a down economy, stronger-than-expected growth in markets such as China and Spain, as well as verticals such as retail and social, are mitigating losses.



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