• by Joe Mandese  @mp_joemandese, June 14, 2023

U.S. ad agency revenue growth will outpace the money their clients spend on media this year by a significant delta, according to an analysis published this morning by Madison Avenue and Wall Street vet Brian Wieser.

"U.S. advertising agency revenues should grow by 5.4% on an underlying basis during 2023," Wieser writes in today's edition of his Madison and Wall newsletter.

That compares with the current big agency holding company consensus for U.S. ad spending growth of 4.3% this year, which follows this week's downgrade by GroupM in its midyear update released on Monday.

In his analysis, Wieser notes growth likely is better for smaller agencies "whose entrepreneurial practitioners may better capitalize on he every-changing ways in which marketing ads value, and projects the underlying revenue growth for U.S. agencies "should hold up a around 5% each year through 2028," which he said is consistent with their recent history.