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🚀 As we gear up for 2024, the landscape of digital marketing, media, and advertising is not just evolving – it's thriving! With a promising forecast in ad spend and major events on the horizon, the U.S. market is set to experience a remarkable transformation.
Global and US Ad Spend Growth: The global ad spend is expected to rise significantly, with an 8.2% increase in 2024 compared to 4.4% in 2023. For the US market specifically, ad spending is forecasted to grow 7.6% in 2024, reaching $326.7 billion. This growth is part of a broader rebound in the advertising industry post-pandemic, signaling a positive outlook for the sector.
Impact of Major Events: The year 2024 will witness major events like the U.S. presidential election and the Summer Olympics in Paris. These events are anticipated to boost advertising activities, with advertisers preparing to capitalize on these opportunities despite ongoing economic concerns.
Dominance of Digital Advertising: Digital advertising, including display, video, search, and social media, continues to dominate global media plans. Major tech firms like Alibaba, Alphabet, Amazon, TikTok's owner ByteDance, and Meta are expected to account for over half of the global advertising spend, with their revenues projected to increase by 9.1%.
In this fast-paced and dynamic market, the value of making the right hire cannot be overstated. The right talent will not only navigate these exciting trends but will also drive innovation and growth. As we embrace the opportunities of 2024, let's focus on finding those game-changers who can turn potential into success.
Contact Us: karen@sparktalentHQ.com
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