The end of calendar years tend to be times for resets. We like to use them as an excuse for a fresh start. This is why we have Sober January and even Veganuary, which I find far more popular in the UK for some reason, and gyms are crowded and I see people very red in the face out for their firs run in many, many months.
2023 is a year of reset expectations and that’s because, as we’ve discussed on this show, we are closing out an era and entering a new one whose contours are only coming into focus. The teetering economy will cause further stresses as all aspects of the economy and society begin to fully emerge not just from the pandemic era but a long run of economic growth.
Let’s face it: Expectations will be adjusted. We have seen this start in the technology industry, both with valuation expectations and worker expectations, and it will spread undoubtedly throughout the downstream economy, notably in media. We discuss the ramifications of these reset expectations for advertising, publishing and technology this week.