November 27, 2023- The pandemic impacted many aspects of daily business, including the marketing and advertising industry. During the pandemic, the advertising industry experienced rapid growth, and now that the world is moving forward, and advertising growth continues to be higher than average.
According to a forecast by Brian Wieser and published on AdWeek.com, the advertising industry in the United States is projected to grow 5% in 2023. Total ad revenue will grow 2.0% to $363 billion in 2023. In 2024, there is an expected surge of 8.1% projected ad revenue growth.
The growth of the ad industry has steadily increased in the past decade due to access to cheap capital that provided “vast sums” of money for companies to use toward advertising pursuits, according to analyst Brian Wieser, media and advertising analyst/consultant.
So, how has the industry changed? And what do those changes mean for the medical supply chain industry?