Global advertising to grow by 8.4pc

NEW YORK, June 13 (Reuters): The global advertising industry is expected to grow 8.4 per cent this year, despite ongoing geopolitical situations around the world and fears of a recession, a report on the sector said on Monday.
That figure excludes the impact of US political advertising, which is on track to reach $13 billion in revenue this year, up from $12 billion in 2020, the report from ad agency GroupM.
The advertising market, which typically tracks the broader health of economies, is settling after experiencing highs in 2021, when it was boosted by strong economic recovery and personal consumption.
Sources of growth in 2022 include increasing numbers of new small businesses, which are likely to advertise at higher levels than the business they are replacing; venture-funded "new economy" advertisers seeking growth; and Chinese-based marketers advertising abroad, the report showed.
The expected deceleration of e-commerce and interest rate hikes will be a drag on growth.