Agencies Agree; 2021 Was A Record Year For Ad Spending, With More Growth Expected In 2022

Agencies Agree; 2021 Was A Record Year For Ad Spending, With More Growth Expected In 2022

Ad agencies expect the ad market to grow year-over-year by over 20% in 2021 led by social media and ... [+] search. Double-digit growth is also forecast for 2022. (Photo by DENIS CHARLET / AFP) (Photo by DENIS CHARLET/AFP via Getty Images) Three prominent global ad agencies (Magna, Zenith and GroupM) recently issued their final forecast for the ad marketplace in 2021 and a look at 2022. Forecast were provided for both the U. S. and global markets. In 2021 the ad marketplace was driven by digital media, specifically social, search and video which was more robust than anticipated midyear. While there are several factors to consider, strong ad spending growth is expected to continue in 2022. The U. S. ad market is forecast to exceed $300 billion and the global ad market over $700 billion. U. S. Ad Spending: According to Magna Global, the U. S. ad market will rebound in 2021 with ad dollars growing year-over-year by an estimated 25%, totaling $284. 3 billion. Driving the growth in ad dollars will be digital "pure play" media which will grow by 35% in 2021 and total $162. 4 billion, accounting for 57% of total ad dollars. Among digital segments,