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Ad Spending at a Decade Low
By admin | November 9, 2009
Marketing budgets are being slashed across the board, and media markets are definitely taking the hit.
Media spending, including TV, print and online ads fell by 14% overall, with some far more significant hits in the auto and financial services industries. The worst off are car dealers, whose ad spending dropped nearly 50%, as compared to automotive spending overall at 28% – still twice the overall average.
Though online ads were decreasing, overall spending online actually improved, particularly in online display advertising. This is a small bright spot when online ad spending fell 5% in the first quarter, and major financial firms don’t think it will improve in the following ones.
Media executives are still trumpeting their optimism though.
It may be simply attempting to boost confidence in the industry, but the spending decreases are being explained away by other phenomenon and many execs are holding firm to their beliefs that the industry will still see improvement this year, if not next.
Topics: media buying | No Comments »