Flat is the New Up. 2023 Ad Spend Forecast +0.7%; Total Marketing +0.4%. Retail Media Gains 20% with National TV -4.0%

Flat is the new up for U.S. advertising investments, which are forecast to increase only 0.7% in 2023 according to The Myers Report. The 30th annual Marketing/Advertising Data and Forecast was published today and is available to MediaVillage members by downloading it below. The report covers 2021 actuals, 2022 final estimates and 2023 forecasts for forty-five above and below-the-line marketing and media categories. The Myers Report estimates a 7.1% increase in 2022 advertising spending ($197.5 billion), reflecting 6.1% growth of legacy/linear media ($89.6b) and 7.8% digital media growth ($107.9b). U.S. total marketing is forecast to grow only 0.4%; retail media gains at 20%; while national TV is forecast to be down 4.0%. Total marketing investments, including advertising, sales promotion and direct marketing, is estimated to increase 3.2% ($515b) in 2022 and to deliver only 0.4% growth in 2023 ($517.3b).