Despite Economic Headwinds Agencies Forecast A Strong Ad Market For Second Half In The Year

Despite Economic Headwinds Agencies Forecast A Strong Ad Market For Second Half In The Year

The Men's FIFA World Cup from Qatar begins on November 21 and runs through December 2022. It is a ... [+] cyclical event that will boost the ad economy in the second half of 2022. (AP Photo/Darko Bandic) Three prominent global ad agencies Zenith, MAGNA and GroupM all recently released updated midyear forecasts of the ad market covering the latter part of 2022. Despite economic concerns such as inflation, the price of gas, a bear marketplace, the Russian invasion of Ukraine and talks about an impending economic recession, agencies see continued overall growth in ad spending in the aftermath of the global pandemic. Besides the Winter Olympics, other cyclical events that will grow revenue will be the U. S. midterm elections, expected to be the costliest with estimates in the $8-$9 billion range for political ads. In addition, immediately following the election will be soccer's FIFA World Cup originating from Qatar. For the first time the World Cup will take place during fourth quarter. Zenith: Zenith forecasts ad growth in the North America market in 2022 to continue at +12% from the previous year. For the U. S. market, Zenith projects an increase of $33 billion in ad dollars, with