November marked the seventh consecutive month ad spend has declined, reflecting ongoing budget cuts, pivots and inflationary pressures within the industry. While November represents the highest monthly ad investment this year — predictable for the holiday season — it still rang in at a steep 8% lower than the year prior. Though perhaps softening the blow, November 2021 was the only month that year to surpass $10 billion in spending, per SMI. This year’s totals, therefore, are reflective of a return-to-earth approach following a spending surge last year related to easing concerns around COVID-19.
