Digiday+ Research: Agencies expect far less ad spend this year, despite increasing services
Ivy Liu
So far, Digiday+ Research has uncovered a lot of optimism among agencies this year: They think revenues will rise, that their clients’ ad spend will grow and that their companies will fare better than the overall industry.
But a Digiday survey of 79 agency professionals conducted in December found that agencies actually don’t anticipate significant growth in ad spend this year, even after most agencies increased services in 2022.
The percentage of agency pros who expect advertisers to spend more this year plummeted from last year, according to Digiday’s survey. This year, a little more than a third of respondents (39%) said they agree advertisers will spend more in 2023. That’s a big difference from 2022, when more than three-quarters (76%) said so. Meanwhile, the percentage of agencies who disagree that ad spend will grow in 2023 shot up to 38% from just 2% in 2022.