The group has revised upwards its previous estimates for 2017 to 2021, so the absolute size of the market is now bigger than it previously anticipated it would be.
“Uncertain consumer spending and rising costs will have a knock-on impact on the marketing budgets available for many advertisers,” its report states. Google and Meta will continue to dominate, Core said, but the rise of TikTok and the potential launch of Amazon.ie are among the trends to watch. However, Core forecasts that print expenditure will sink to €73.8 million this year, down 10.4 per cent. Digital ad spending with news publishers will return to growth, rising 4 per cent to €32.7 million.Despite the abolition of VAT on newspapers, inflationary pressures will force the sector to cut back on costs, Core anticipates.
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