PQ Media has released its 10th annual Global Advertising and Marketing Spending Forecast. This year’s report covers 2023-2027, after drawing from data and trends dating back to 2017. The new Forecast is one of three reports in the annual PQ Global Media Forecast Series, the other two focusing on media usage and consumer spending on media.
Short-term forecasting isn’t looking positive for radio – PQ shows traditional media is suffering, underperforming the economy by two to five points on average. Digital marketing grew around 13% worldwide in 2022, compared to traditional advertising’s 3%.
After the massive rebound in 2021, global advertising and marketing in traditional media cooled down in 2022 and is trending toward no growth in 2023. Revenue is currently pacing below pre-COVID growth rates with broadcasters missing last year’s benefit of record political spending. Combine that with the threat of recession, and it could mean radio spending faces a decline in a few years.
For a further look, including what trends are looking like years down the road, the full Global Advertising and Marketing Spending Forecast is available at PQ Media.
Thank you for the information about PQ Media’s Global Advertising and Marketing Spending Forecast for 2023-2027. It seems that traditional media, including radio, is underperforming in comparison to digital marketing. Additionally, global advertising and marketing in traditional media is trending towards no growth in 2023, which could mean that radio spending may decline in the coming years. I appreciate the resource and the insights you have shared.