A new report from Standard Media Index shows that national ad spending was down 6% from Jan. 2022 to Jan. 2023.
The category that saw the largest decline was traditional ad spending which continues to suffer from shifting consumer trends.
Ad spending on digital advertising remained consistent year over year, demonstrating its resiliency compared to traditional advertising channels.
- Technology (23%), entertainment (23%), media (23%), and wellness (37%) ad buyers saw the most significant decline in ad spending.
- Consumer packaged goods (16%), pharmaceutical (15%), automotive (9%), and travel (19%) ad buyers saw the largest increase in ad spending.
- Ad spending is expected to increase by 6% in 2023.
