May 2024

2024 Advertising Agency Report

After several tumultuous years, agencies entered 2024 with optimism. Yes, there were some lingering concerns about the overall state of the economy, but forecasters were projecting an uptick in media spend. Sure, there were some high-profile layoffs, but overall, staffing in the industry was at an all-time high.

And fragmentation was still a problem, it’s true, but streamers were introducing new inventory on new platforms to showcase new content, with Hollywood productions back on track after two
prolonged strikes.

Overall, the advertising industry was looking strong. But what about the people working in it?

To find out, we surveyed advertising industry professionals from agencies across the United States, exploring how they feel about their jobs, their agencies, their industry, and the challenges and opportunities that are shaping their futures.

Among the findings:

  • 71% of agency professionals believe their job is harder today than it was just two years ago
  • 88% feel that most people outside the industry fail to appreciate the role that advertising plays in supporting the internet
  • 36% of respondents say their agency has conducted layoffs in the past 12 months
  • Inefficient processes, rising costs, and siloed/disconnected systems are among the top challenges currently facing agencies
  • 77% believe AI is the trend that will most shape the next decade of digital advertising

To get more insights into the state of advertising agencies today, fill out the form to download the full report.

2024 Advertising Agency Report cover image

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