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Research by Redburn and PwC puts the sector’s value at $1.7 trillion, much higher than previous figures, but suggests a slump for 2019-2021.

The headline number is based on a survey of spending on paid and digital media, owned media, paid promotions, sales promotions and investments in relevant technologies from 120 senior executives.

But there is churn underlying the total. The study found that paid media spend was down year-on-year, with more budget directed towards owned media and marketing technology. Similarly, there was a shift from brand marketing to call-to-action activities.

This could be troubling news for agencies. Redburn’s Bianca Dallal commented that “as budgets shift away from paid media, the reliance on intermediaries falls, with negative implications for traditional agencies.”

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[3 minute read]

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