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Advertising and publishing media

Publishing media’s advertising forecasted to decline 7.7%

Global ad spend in publishing media will decline 7.7% in 2023. It is becoming harder for content-creating publishers to remain competitive against data-rich performance channels like retail media, and sustain publishing businesses through online display revenue alone, marketer WARC says in a Global Ad Trends report.

“Amazon earned $37.7 billion from advertising services in 2022, almost the exact amount print was worth globally last year. The entire global publishing ad market will be worth $47.2 billion in 2023, a decline of 7.7% year-on-year in 2023.” 

“However, advertising remains an attractive, high-margin source of revenue, meaning media owners are evolving their operating models to survive.”

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“For newsbrands and magazines, modest increases in digital ad revenue have been insufficient to compensate for print ad income losses. Global publishing print advertising revenue has halved in the last six years, from $75.9 billion in 2016 to $37.3 billion in 2022”, says Alex Brownsell, Head of Content at WARC. 

“While Meta is launching a paid verification service, reducing its reliance on ad revenues,  content-creating media owners have not given up on the ad market. Netflix and Spotify are just two platforms to see high margin advertising as a means of achieving profitability, and mitigating any softness in the subscription economy as consumers negotiate cost of living pressures.”

Global spend on video, audio, publishing and OOH has scarcely shifted. WARC Media forecasts total investment in 2023 will be 1.6% higher than it was in 2016.

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“More than $4 in every $10 spent on advertising in any format globally now goes to Alphabet, Amazon or Meta.” 

“Globally, 57% of consumers cutting back on SVOD subscriptions favour ad-supported streaming services.”

 “Netflix recently pivoted to advertising, signalling a watershed moment in video and audio streaming. Disney+ and Warner Bros Discovery have adopted ‘hybrid’ paid and ad-funded models. Audio streaming platform Spotify is improving margins through more sophisticated podcast advertising.” 

  “Data from Roku found that 47% of streaming viewers plan to make changes to their services in the next 12 months. And according to GWI, 57% of those cutting back on SVOD subscriptions favour ad-supported streaming services.”

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