Just like that, we are all starting to think about what our new year’s resolutions will be in 2024. Every year seems to zip along quicker and quicker, but before 4 different networks try to bring us viewers to their NYE’s parties, let’s look at what we can expect in the final three months of 2023.
Politics
The midterm of 2022 brought out a lot of surprises for both parties of government. What wasn’t a surprise was the amount of money spent by candidates in the lead up to the election. In what can only be considered “a whole lotta money” the 2022 midterms saw $7.8 billion (BILLION!) hit the market. Since 2023 isn’t a midterm, we shouldn’t expect spending to be as high as ’22, but anything north of $4 billion wouldn’t be shocking.
Sports
As viewers continue to leave the cable ranks for the “live streaming” services, the one component holding them back is live sports. Sure you can bundle your way into ESPN+, but ESPN proper and the major networks have a lot of money riding on you, the viewer, tuning in to watch full slates of sports. The NFL’s move to Amazon throws Thursday nights into disarray, and the NBA’s Christmas schedule is stacked this year. College Football, after all the crazy realignment talk this past summer, also promises to bring in more and more viewers.
Movies
The 2023 summer blockbuster returns! Barbie and Oppenheimer proved that there is still a want to head to the theater and watch in total darkness with total strangers. Barbie spent $150 million marketing the biggest movie in years while Oppenheimer brought in $300 million (domestic) while spending $140 million in marketing. The remainder of the year has some blockbusters for the holiday push, including The Marvels, Wonka, and Aquaman and the Lost Kingdom. Marketing has already started for these huge releases, and the dollars will only increase as we get closer to the end of the year.
Retail
It’s the most wonderful time of the year… for retailers, both online and in-store. In 2022, Amazon pulled in a cool $11.3 billion (BILLION!) over Thanksgiving weekend. Including Amazon, the retail industry increased their holiday spending by 7% compared to 2021, and as estimates show a 20% increase for ’23 in total, it stands to reason that the industry will just ratchet up their spend levels for the season.
Overview
If 2023 estimates are to be believed, advertising dollars will be dominated by politics, retail and a reinvigorated movie industry. Dollars keep rising despite the uneasiness of an economy that shows lots of unemployed professionals and inflation that doesn’t seem to be leaving anytime soon. After a summer of record high temperatures, we might be looking at record high spend levels as we close out 2023.
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