The U.S. presidential election is significantly boosting political ad spending, while other factors like retail media and social video are enhancing overall ad market growth.
Magna Global predicts U.S. ad market growth of 11.4% this year, anticipating total spending to reach $377 billion, marking an optimistic change from previous forecasts.
Despite challenges from inflation and high borrowing costs, more than one-third of surveyed agencies reported that clients increased their advertising budgets this year.
Retail media has surged, with over 200 networks now available, reflecting a shift where companies aim to transform every digital space into potential ad revenue.
#advertising-spending #retail-media #economic-growth #us-presidential-election #advertising-forecast
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