Advertising spending in the U.S. is expected to fall eight percent this year, according to a recent survey conducted by ad industry trade group the Interactive Advertising Bureau.
IAB’s findings, which surveyed buy-side decision-makers on their projections for advertising spending and revenue in 2020, found that total traditional media advertising will decline about 30 percent this year from 2019.
The biggest hits are anticipated to affect the out-of-home ad market or advertising that reaches consumers in public places, which is expected to suffer declines of 45 percent. Media buyers estimate that print advertising will be down by 33 percent, followed by radio (-31 percent), TV advertising (-24 percent) and direct mail (-17 percent).
Estimated percentage change in FY 2020 ad spending vs. 2019 |
On the other hand, digital media is expected to see overall gains of six percent this year. Paid search advertising is anticipated to grow by 26 percent, followed by social media (25 percent) and digital connected TV advertising (19 percent).
Digital video is estimated to grow by 18 percent in 2020, and display ads could see a similar uptick of 15 percent.
IAB’s “2020/21 COVID Impact on Advertising” report surveyed 242 planners, strategists and media buyers at companies and agencies in early August.
Trump's promise to impose tariffs on some of the U.S.'s trade partners could result in an advertising and marketing slowdown in 2025, according to a recent report.
Worldwide advertising spending is set to climb 10.5 percent this year to hit $1 trillion for the first time, according to a new WARC report.
Rational 360 is helping to defeat New York Congressman Jamaal Bowman in what is shaping up to be the most expensive House primary race in history.
Why cutting advertising budgets during a downturn could hurt brands more than help.
The New York Yankees give up some space on their uniforms for a little advertising—a move that shows how some companies believe branding means slapping your name and logo all over everything the consumer is expected to encounter or see.
