Excluding U.S. political promoting, promoting income grew by 6.5% in 2022, in line with WPP media funding arm GroupM’s 2022 year-end “This 12 months Subsequent 12 months” forecast. The U.S. market fared higher than the worldwide market this 12 months, with 7.1% development and $305 billion in income.
The numbers don’t point out financial prosperity by any means. In truth, they’re decrease than anticipated, contemplating GroupM’s June mid-year forecast had projected advert spend would develop by extra—8.4%—in 2022. However deceleration just isn’t the identical as decline, and the projection locations the promoting trade in a fairly wholesome place amidst an financial downturn.
