0648 GMT - Investor concerns about risks for advertising groups stemming from artificial intelligence and a shift away from agencies' role as middlemen might be misplaced, Citi analysts say in a note. A survey of chief marketing officers conducted by Citi suggests a muted overall growth outlook, but this is in line with agencies' revenue growth expectations, analysts say. Many investors fear AI could put ad agencies' revenue under pressure as more work is outsourced, according to Citi. Moreover, investors are worried that agencies could lose their intermediation role due to the inexorable rise of digital-ad channels, the analysts say. However, the survey results don't give weight to either of these investor concerns, Citi says. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
November 22, 2024 01:48 ET (06:48 GMT)
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