The short version

Bob Hoffman predicted on May 31, 2024: “In 2024, marketers will spend over $650 billion on online advertising. A substantial proportion of this — perhaps in the hundreds of billions — will be completely wasted.” Verdict: Still evolving. The first part of the prediction (very high global online ad spend) appears broadly aligned with industry forecasts for 2024, but precise…

Prediction by

Bob Hoffman

On May 31, 2024

“In 2024, marketers will spend over $650 billion on online advertising. A substantial proportion of this — perhaps in the hundreds of billions — will be completely wasted.”

Follow-up

The first part of the prediction (very high global online ad spend) appears broadly aligned with industry forecasts for 2024, but precise figures are not yet fully confirmed and consolidated from all major sources as of late 2024. The second part, 'hundreds of billions' of wasted spend, is an evaluative claim that lacks a universally accepted, auditable metric for 'waste', making it difficult to definitively confirm or refute.

From the High Caliber AI network — see the AI for PR module in the course.