Economic Uncertainty is Not All Doom and Gloom

Kids are returning to school, and OOO email replies are hitting inboxes as employees take last-minute vacations. Still, as summer winds down and things get back to normal, general economic uncertainty looms over us like The Mothership from Independence Day.  

While the debate on whether or not we’re officially in a recession continues, things are changing. A recent report from eMarketer said, “an ad industry downturn isn’t just coming—it’s here.” But before you get too down in the dumps, things aren’t as bad as they seem.

In a recent report, Insider Radio sheds a little positive light on the state of media. According to the report, total advertising spending will remain in growth mode through 2026, and the rates are merely “returning to normal from inflated pandemic-era highs.”

Despite the predicted growth, the report shares that the downturn is still negatively affecting areas of the ad industry. 

• Consumers are reducing their spending in specific categories
• 20% of advertisers have cut their budgets (Automakers spent 23% less on advertising in June)
• The advertising industry cut 2,400 jobs in May
• Advertisers are running away from connected TV due to high costs and concerns about impression accuracy 

Now is the time to reassess your strategy and focus on media channels that can produce trackable results. For more tips on how to futureproof your brand, keep reading to hear professor Mark Ritson’s take on what you need to do. 

Also, in this week’s edition, we have two very different podcast opportunities for your consideration, more top stories from the marketing world you may have missed and a fantastic aircheck from the hosts of Bad on Paper.

Enjoy the rest of the summer; the last half of this year will be wild.