Madison and Wall forecast $397 billion in 2024 ad spend

The U.S. advertising industry experienced a robust 9.6% growth rate in Q2 2024, marking the third consecutive quarter of around 10% growth, according to a study from renowned analyst firm Madison and Wall.

Total U.S. advertising spend is expected to hit $397 billion in 2024 — $16 billion of this is attributed to “political and issue advertising”— but the positive comparisons with last year are expected to fade as the year progresses.

“This impressive performance is attributed not just to a healthy economy but also to ‘easy comparables’ from the previous year,” according to the report authors, who based their observations on the aggregated results of publicly listed digital platforms and media owners. 

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