US Ad Spending 2023

Amid Deceleration, CTV and Retail Media Are Silver Linings

Report Snapshot

Digital ad spending in the US faces its slowest growth rate in over a decade, even though almost $20 billion more will be spent this year than in 2022. Most of the new money is going to new channels, rather than those that were popular just a few years ago.

Key Question: What is the outlook for digital ad spending across the major channels and formats in 2023?

KEY STAT: Digital ad spending growth has not been as low as 7.8% in the US since 2009, when spending contracted. Growth in the range of 10% should be considered the new normal.

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Table of Contents

  1. Report Snapshot
  2. US digital ad spending is in line for its lowest growth since the Great Recession.
  3. Display will rebound slightly; search will do the opposite.
  4. Digital video will prop up display advertising.
  1. As the duopoly stagnates, Amazon is hot on Meta’s tail.
  2. Retail media’s growth will defy the overall market slump.
  3. Proliferating AVOD options will keep CTV flying high.
  4. Social network ad spending—excluding TikTok—is in bad shape.
  1. Traditional TV ad spending will be its lowest in a dozen years.
  2. Digital audio ad spending will hit a short-term bump, then rebound.
  3. What does this forecast mean for marketers in the US?
  4. Media Gallery

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Ethan Cramer-Flood


Vivian Dong
Associate Forecasting Analyst
Zach Goldner
Forecasting Analyst
Peter Newman
Senior Forecasting Analyst
Andrew Spink
Forecasting Analyst

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