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US Advertising Forecast: Stable Growth Amidst National TV Crisis

Originally Published 2 years ago — by Hollywood Reporter

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Source: Hollywood Reporter

U.S. advertising revenue, excluding political ads, is projected to grow 5% in 2023 and 4.3% in 2024, while total revenue, including political ads, is expected to reach $363 billion in 2023 and grow 8.1% in 2024. However, national TV is facing an "existential crisis" due to cord-cutting, the shift of resources to streaming platforms, the impact of Hollywood strikes on ad-supported programming, and the recent Disney-Charter Communications blackout. The advertising industry is expected to return to normalized growth, but challenges lie ahead, including the decline of certain growth drivers and the shift towards streaming services, which may result in a decrease in advertising exposure. To adapt, TV network owners should redefine their offerings and explore integrated sales of traditional TV, streaming video, and other digital inventory.