Tuesday, March 5, 2024
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    Agencies weigh positives and negatives to 2024 spending in an uncertain economy

    Although 2024 is shaping up to be a big year for ad spending with the potentially most expensive presidential election in history on its way, there remains some uncertainty in the industry — given the economic conditions and move toward cookie deprecation.

    That said, independent agencies are so far hearing a positive outlook from some clients, depending on their sector and size or performance of a particular brand. For others, spending looks to be more reserved in a still-recovering economy next year.

    “Clients are keeping macro economic conditions in mind as we head into 2024,” said Stephanie Stanczak, vp of media operations at Ocean Media. “However, it feels to be a repeat from early 2023 where clients want to plan for the year, but have contingencies in place so they can pull back on dollars if needed.”

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