For the next week or so, the industry will be preoccupied with who won how many Lions in Cannes.
But before that, Campaign is providing an overview of one of the most important industry metrics: who is spending the most, and where.
“What happened to adspend in 2023?” is a special excerpt taken from a larger data report available only to corporate subscribers. It analyzes the macro-level ad spend changes in 2023, as the world dealt with an inflation induced cost-of-living crisis and rising geopolitical tensions, and provides important context about where adspend is going this year.
For example, while marketers were focused on “hyper-targeted” marketing in 2023, they now feel it's safe to return to more brand driven advertising in 2024.
“The ability to keep pushing through price increases has abated. Now there’s going to be a fightback for volume,” said Mark Gallagher, executive vice-president, Omnicom Media Group. “That won’t be done through promotion but reaffirmation based on brand.”
The article includes a rundown of the top advertisers in the world, who was up and who was down, as well as a closer look at the reasons for the significant differences between sectors.
