The short version

Ian Whittaker predicted on January 24, 2023: “I don’t think we’ve seen much of the macro changes yet. I believe they will only really hit in Q4 this year or even in 2023… I think 2023 is going to be the really hard test for the ad industry… although the macroeconomic situation remains tense… people still need to advertise… but…

Prediction by

Ian Whittaker

On January 24, 2023

“I don’t think we’ve seen much of the macro changes yet. I believe they will only really hit in Q4 this year or even in 2023… I think 2023 is going to be the really hard test for the ad industry… although the macroeconomic situation remains tense… people still need to advertise… but this can only continue for so long, so I think at the end of the year we’ll really see the macro environment hit hard…”

Follow-up

Industry data and commentary through 2023 consistently described a tougher environment for advertising, especially in traditional TV and some brand-building budgets, due to higher interest rates and cautious corporate spending. Many reports characterized 2023 as a 'testing year' with slower growth and more volatility, consistent with Whittaker's forecast. While not a uniform collapse, the impact was directionally correct with a challenging and lower-growth year.

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