2Q25 Ad Interview Series: NA Agency A

We begin publishing our advertising industry research, with the first batch including two North American agency experts, two Chinese agency experts, and one European agency expert.

Our second expert comes from one of the world's largest 4A companies. This expert manages over $200 million in advertising budgets, all focused on the North American market.

META

Ad Growth

• The expert's META advertising grew 13% YoY in 2024, with Q4 2024 also growing 13% YoY.

• In early March interviews, the expert estimated Q1-Q4 2025 YoY growth at 12%/12%/12%/12% respectively.

• In late April interviews, the expert revised estimates to 12%/8%/10%/10%.

• In late June interviews, the expert updated estimates to 12%/8%/12%/12-13%.