The US ad market has now grown for 14 consecutive months, according to data from Guideline (previously Standard Media Index). Guideline’s latest update shows 1.9% growth YoY in May, a deceleration after several months of higher growth. Despite consistent growth, advertisers aren’t necessarily feeling optimistic. Budgets are tight, and advertisers are under pressure. So why do things feel bleak despite evidence to the contrary?
“There are too many existential crises happening at once,” said our analyst Evelyn Mitchell-Wolf. “The industry knows winter is coming and is too busy preparing for assaults on multiple fronts to enjoy the summer while it's here.”
Existential crisis: Ad-tracking capabilities dissolve due to privacy concerns
- Having enough first-party data for targeting and activation ranked as the No. 3 concern among US brands and agencies, according to November 2023 Interactive Advertising Bureau (IAB) data.
- “Google postponing third-party cookie deprecation in Chrome seems to have prolonged industry anxiety rather than providing temporary relief,” said Mitchell-Wolf, who also suggested some stakeholders may have checked out of finding third-party cookie alternatives altogether.