LONDON, Today: Global advertising spend is on course to grow 4.4% this year to a total of US$963.5bn, according to data released this morning by WARC.
In 2024 global adspend is forecast to grow a further 8.2% by when expenditure will have topped $1trn for the first time.
The US accounts for 31.3% of global spend.
“High interest rates, spiralling inflation, military conflict and natural disasters have made a bitter cocktail – but the new data shows the ad market has withstood this turbulence and has turned a corner.”
NZ recorded $2.112bn last year, and is on track to reach $2.182 in 2024.
James McDonald, director of data, intelligence and forecasting at WARC said: “High interest rates, spiralling inflation, military conflict and natural disasters have made for a bitter cocktail over the preceding 12 months, but the latest earnings season shows that the ad market has withstood this turbulence and has now turned a corner.”
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