Industry Update from Agency Mania Solutions: December 2022
Most analysts predict high volatility in the months to come, especially in digital advertising, and it is expected to spread across the entire advertising and marketing space.
Agencies and advertisers are all dealing with a great sense of uncertainty right now. Macroeconomic concerns have been an ongoing topic of conversation, with unknown consequences for how budgets will be affected in 2023. If anything, the challenges underscore once again the ingenuity and resilience shown by all of us to withstand the COVID-19 pandemic, territorial conflicts, and inflationary trends — and still fuel economic growth and thrive.
Advertising is not recession-proof, but the industry benefited from a vibrant midterm election in the U.S. and one of the world's largest sporting events, the FIFA World Cup, which kicked off on November 20 in Qatar with big sponsors like Coca-Cola, Gatorade, Pepsi, Hyundai, Frito-Lay, Puma, and Budweiser.
The Association of National Advertisers (ANA) recently told the Federal Trade Commission that "Advertising is the lifeblood of the American economy."
It's now clear that advertising is the lifeblood of the global economy as well.
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Source
"Industry Update from Agency Mania Solutions: December 2022." Agency Mania Solutions, 12/20/22.