Global adspend in publishing to ‘drop 7.7%’
In brief
Global adspend in publishing media will fall by 7.7% in 2023.
WARC’s Global Advertising Trends report has found that global publishing print advertising revenue has halved in the last six years, from $75.9bn in 2016 to $37.3bn in 2022.
This last figure nearly equals online retail giant Amazon’s total advertising revenue for 2022 ($37.7bn).
The report stated the media industry has “entered a period of flux” where it is becoming harder for content-creating publishers to compete against data-centric performance channels like retail media, or sustain businesses through display ad revenue alone in a programmatically-traded and data-driven digital ad market.
This means media owners are “evolving their operating models to survive” so they are not solely supported by advertising, with “thriving” examples pointed to including The New York Times, Axios, Punchbowl and Politico.
