The recovery of US ad spend this year hinges on these 4 verticals

These 4 industries will determine whether US advertising revenue will start to recover this year, according to IPG Mediabrands

IPG firm Magna forecasts flat growth in the first half of 2023, with recovery in the second.The second half of 2023 is"guaranteed" to be better than the second half of 2022.

Magna expects tepid growth in US ad revenue in the first half of the year, with more of an uptick during the second half, netting out to 3.4% growth this year to $326 billion. US ad revenue grew 6% in 2022, but spending massively slowed during the second half. "We think we might have double-digit growth on those four," said Magna director of global forecasting Vincent Letang.

However, improvements in the auto industry is steering some recovery in ad spend from parts of the finance industry. While mortgages and credit cards continue to suffer, insurance — which Letang says is the vertical's biggest segment — is coming back after a bad 2022.

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