Ad spending growth is poised for a significant slowdown in 2017, due to economic and political uncertainty, according to the latest forecast from Magna Global.
The global ad business will see a slowdown to 3.6% spending growth next year, down from the 5.7% growth clip projected for 2016, when spending is expected to total $493 billion, Magna said. The 2017 forecast is an improvement over a June estimate that 2017 spending would grow 3.1%.
Magna as of yesterday has updated their forecast to include all these statistics across all key digital ad channels and markets. Unfortunately, no effects on earned media, in-store marketing, direct mail and promotional spending statistics have been included in the report, despite fueling digital ad spend.
Overall it is worth noting that the effect of cyclical events can impact the overall increase in media spend, even across traditional media like TV and print, due to wide mass media reach and social coverage it can deliver.
Other such reports are available through Magna’s Atlas platform.