Despite early warning signs of a global economic slowdown, the possibility of a recession is not keeping most advertisers up at night. Ad spending will continue to rise across the globe, with digital driving most of the growth. That said, total media and digital ad spending growth rates will be weaker than they were in 2018, but that’s indicative of a market in transformation rather than budgets tightening.
“The advertising market is underperforming the economy, but we don’t think that’s because advertisers have stopped investing,” said Jonathan Barnard, head of forecasting at Zenith. “Instead, we think they’re investing in other areas like advertising technology, data and ecommerce.”