As political spending escalates with the U.S. presidential election, ad forecasters expect significant growth in media spending for 2024, marking improvements across various sectors.
Leading agencies like IPG's Magna Global predict U.S. ad spending will reach $377 billion in 2024, a rise of 11.4% year-over-year, reflecting stronger business conditions.
Retail media has emerged as a crucial player in the advertising landscape, with over 200 networks available, pushing agencies to maximize all digital opportunities for ad placements.
Despite challenges from inflation and high borrowing costs, 36% of agencies reported their clients increasing budgets this year, supporting positive spending trends for the future.
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