From the digital ad crash to Elon Musk buying Twitter - these were the ad industry's 5 biggest shocks of 2022, and what it means for 2023
Alex DeGroote, research director at Arden Partners, said the sharp ad spending slowdown largely reflects the Russian-Ukrainian war's drag on global economic growth, which was 6% in 2021, down to 3.2% in 2022, and is projected to be 2.7% in 2023.