Summary : For ad buyers reducing their projected U.S. media spend for H2, the most common factor was a “slowing economy,” according to an IAB study released Thursday. IAB reported that 74 of the 250 ad buyers they surveyed earlier this month said they were reducing their projected total U.S. media spend for July to December this year.
Yes, but: Despite these reductions, which several global ad agencies have similarly predicted, IAB said buyers on average projected H2 2022 ad spend to be up more than 7% compared to their original plans.
• But when asked if the U.S. is currently experiencing or likely to experience a slowing economy that will decrease total U.S. ad spend within the next year, about 71% of the 250 surveyed ad buyers said yes.
• Still, buyers said they expect ad spend for H2 2023 to be up 10%, on average, compared to H2 2022.