Ad spend forecasts; The ANA investigates ad spend transparency; Meta faces EU €550m lawsuit in Spain

This week: Ad spend forecasts; The ANA investigates ad spend transparency; Meta faces EU €550m lawsuit in Spain… 

Ad spend has been a major topic of the week. Magna released its latest global ad spend forecast for this year, estimating an increase of 6% in global ad spend, dominated by social. Later in the week, we saw the release of Dentu’s ad spend forecast for 2024, predicting a 4.6% increase in global ad spend next year. 

Through a study conducted by the ANA, ad spend transparency was also investigated. Following an examination of the programmatic media supply chain involving 21 marketers and 12 supply chain companies, the main conclusion drawn was that there is around USD $22bn (£17bn) in efficiency gains available to the client-side marketer community. 

Meta also made headlines this week, with many organisations claiming that the tech giant is breaching EU laws. The latest legal action being taken against the giant is being led by AMI, an association of newspaper owners in Spain, with over 80 members. They are seeking compensation of €550m (£471m) for Meta’s non compliance with EU legislation. 

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