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Ad Spending Broke a Record (Before COVID-19 and Recession Intruded)

from Ad Age

Ad Spending Broke a Record (Before COVID-19 and Recession Intruded) Ad Age The top 200 U.S. advertisers increased ad and marketing services spending a robust 4.6 percent in 2019 to a record $175 billion, the capstone to a decade of advertising growth. But marketers slammed the brakes on spending in early 2020 as the nation plunged into a COVID-induced recession. WPP’s GroupM expects 2020 U.S. media ad revenue to tumble 12.9 percent (excluding political advertising). GroupM forecasts that spending in 2021 will grow by 4.2 percent (excluding political ads). But it likely will be some years before U.S. ad spending breaks the record set in 2019. READ MORE

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