Expected cuts in ad spend among selected global brands by region 2023
Among talks of an economic recession, around one-third of global brands planned cuts in their media budget in 2023. According to the survey, reductions in advertising and marketing expenditures are more likely to happen in Europe, the Middle East, and Africa, with 32.5 percent of the respondents in the region planning to slightly or significantly decrease their budgets compared to 2022. In the Asia Pacific, roughly 15 percent of the respondents reported intending to lessen investments in advertising and marketing.
