Ad spending to increase despite economic uncertainty

U.S. advertising revenues are expected to grow 3.4 percent to $326 billion this year, according to Magna, which expects buying to pick up during the second half of 2023. “We were always expecting more slowdown in ’23 with tepid macroeconomic expectations. Now, three months later, we see that the economic signals are actually not so bad—and some of them are improved if we compare to three months ago,” said Vincent Létang, executive vice president of Magna and author of the report.