Global marketing industry growth rate declines, traditional media budgets drop amid COVID-19

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 03, 2020, 12:23 PM UTC

Marketing budgets decreased from 45.9 in February to 38.7 in March.

As per WARC’s Global Marketing Index (GMI), the growth rate has fallen to 42.5 in March from 48.8 in February. A downward trend has been on since July 2019, further accelerated by the pandemic.

Europe saw the largest drop in index value from 53.4 in February to 45.0 in March. However, Europe saw the slowest rate of decline. The Americas saw a decline of 45.6 in February to 41.0 in March. The index also shows staffing levels trending downwards with 51.3 in February to 47.9 in March.

Tracked media like TV dropped from 46.3 to 38.2 from February to March. Other media outlets like radio, OOH and press followed a similar trajectory. Mobile and digital, however, reported a positive growth with 55.2 and 53.9 respectively.

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