Global Advertising Expenditure Forecasts for 2023

This report presents the June 2023 edition of Zenith’s Advertising Expenditure Forecasts, detailing the anticipated growth in the global advertising market. Zenith forecasts a 4.4% growth in global advertising for 2023, with expectations of acceleration to 6.9% in 2024, driven by significant events such as the US Presidential elections and the Olympics. The report outlines the macroeconomic situation, noting a cautious optimism despite ongoing inflation concerns and a mixed economic recovery in regions like China. The document provides a comprehensive analysis of advertising growth by geographical areas, including North America, Asia Pacific, and Western Europe, while also discussing the performance of various advertising channels. It highlights the dominance of online advertising, which is projected to constitute 57% of overall spend in 2023, and details the growth of video advertising, particularly in subscription video on demand (SVOD) and free ad-supported TV (FAST). The methodology for compiling these forecasts is also explained.