Robust ad industry growth predicted (despite the economy), plus Starbucks’ personalization strategy: Datacenter Weekly
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Agencies still predict robust global ad industry growth, despite economic headwinds
“For the second year in a row, GroupM predicts that despite the tumultuous economic and geopolitical situations around the world, the global ad industry will see robust growth this year,” Ad Age’s Tony Hao reports. On Monday, “the WPP agency released its optimistic global mid-year forecast ... anticipating an 8.4% increase in global advertising revenue, excluding U.S. political advertising, in 2022. The projection is down from the agency’s December 2021 forecast, which anticipated 9.7% growth in 2022.”
The next day, Interpublic Group of Cos.’ Magna issued its own forecast, calling for 9.2% growth in global ad revenue this year.
Essential context: Hao notes that Brian Wieser, global president of business intelligence for GroupM, pointed to “a growing disconnect” between the global economy and the ad industry. “Over time, the correlations have weakened between economic activity and advertising,” per Wieser. In other words, a challenging economic climate doesn’t necessarily mean that marketers will automatically slash ad spending. And Vincent Létang, Magna’s global market research executive VP, discussed the media agency’s thoughts on topics including election ad spending and the digital ad boom.
