The short version

Bob Hoffman predicted on May 1, 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: Partially right. The prediction of over $650 billion in online advertising spend for 2024 appears to be broadly consistent with industry forecasts. However, the…

Prediction by

Bob Hoffman

On May 1, 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 prediction of over $650 billion in online advertising spend for 2024 appears to be broadly consistent with industry forecasts. However, the specific magnitude of 'hundreds of billions' in wasted spend is difficult to verify with publicly available data.

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