Our Q1 ad spending forecast for 2025 assumed relatively poor economic conditions and projected moderate growth deceleration across most ad categories. Tariff chaos has ensued since then, creating profound uncertainty and lowering the floor on worst-case scenarios. Our original estimates remain in play as the best case, but we have also built alternate projections.

Key Question: What is the outlook for US total and digital ad spending across the major formats, channels, and platforms in 2025?

Key Stat: Under the best-case scenario—a rapid return to a more limited and targeted tariff regime and a moderately subdued economy—total media ad spending in the US will increase 6.7% in 2025 and reach $422 billion. This outcome has become unlikely, however.

This report can help you:

• Determine market sizing (brands, media platforms, agencies, and solution providers)
• Develop media strategy and allocate budget for campaigns (brands and agencies)