Q2 2020 could see internet search and online display to “suffer badly”.
Citing the Advertising Association/WARC Expenditure Report, this article shares that UK ad expenditure could plunge down to £21.1 billion this year, a 16.7% fall. The factors behind this are both the pandemic-induced lockdown and the resultant economic slump.
In Q2 2020, TV is forecasted to fall 46.6%, OOH 52.6%, radio 44.1%, cinema 100% and national news brands could fall 45.3%. As per the article, the annual 16.7% annual drop could be “worse than the 2008-2009 recession”.
The report predicts a return to growth in 2021 at 13.6%. However, the optimism comes with caution as “absolute levels of investment are not expected to surpass the 2019 total”.
[3 minute read]