Zenith Quietly Releases Updated Forecast, Revises 2024 Growth Down 1.6 Percentage Points -- With A Caveat

Publicis Media’s Zenith unit quietly released a year-end update to its global advertising forecast -- revising its 2024 growth projection to +5.3% excluding U.S. political ad spending vs. the +6.9% it projected in its previous update in June, which included political ad spending.

The update, which was posted early this morning on its corporate website a day after two other major agency holding company forecasting units -- IPG Mediabrands Magna and WPP’s GroupM -- had released theirs, was uncharacteristic, given that all three agencies traditionally announce their year-end updates with some fanfare on the first Monday of December each year.

For 2023, Zenith project global ad spending will rise 4.8%.

Regionally, Zenith did not release an update to its U.S. outlook, but it said ad spending in the Americas will grow 5.7% this year -- up from the 4.3% growth rate it was projecting for North America in its June update.

Editor's Note: This article has been updated from an earlier version that did not note Zenith's decision to begin excluding U.S. political ad spending effective with its December 2023 projections.



Next story loading loading..