In 2023, media budgets are experiencing significant cuts due to the economic downturn, surpassing previous analysts' predictions. A recent study highlights the intensified scrutiny on marketing and advertising expenditures in the unpredictable 2022 landscape. However, some global giants remain steadfast, opting to maintain their planned investments in spite of looming recessions in various markets.

This collaborative research by the World Federation of Advertisers (WFA) and Ebiquity studied 43 multinational companies' intentions, including five of the world's top ten advertisers. Together, these companies channel over $44bn into advertising. Key findings indicate that 74% of respondents acknowledge the recession's influence on their 2023 budgeting decisions, while 29% are considering reducing their spend.

The findings advocate for a strategic re-evaluation of expenses, focusing on eliminating inefficient and superfluous expenditures. Amid these shifts, the resilience of certain brands in maintaining or even increasing their advertising budgets during recessions offers a promising outlook for post-recession recovery.