THE FUTURE
2008.09.26
NEW YORK -- U.S. advertising spending dropped into recessionary
territory in the second quarter amid economic woes, recording the
biggest drop since the last recession in 2001.
Research firm TNS Media Intelligence on Wednesday reported a 3.7% decline for the second quarter, with all media categories seeing weaker momentum than in the first quarter. That left overall U.S. ad spending for the first half of the year down 1.6%.
"Advertising expenditures started to contract in March, well before the September turbulence on Wall Street renewed concerns about the health of the economy and possible collateral damage to the ad market," said Jon Swallen, senior vp of research at TNS. "Sustained improvement will most likely depend on a turnaround in consumer spending that rejuvenates corporate profits and encourages marketers to expand their advertising efforts."
For the second half of 2008, the firm says, ad spending figures will be helped by the Beijing Olympics and the elections.
Read it here
Research firm TNS Media Intelligence on Wednesday reported a 3.7% decline for the second quarter, with all media categories seeing weaker momentum than in the first quarter. That left overall U.S. ad spending for the first half of the year down 1.6%.
"Advertising expenditures started to contract in March, well before the September turbulence on Wall Street renewed concerns about the health of the economy and possible collateral damage to the ad market," said Jon Swallen, senior vp of research at TNS. "Sustained improvement will most likely depend on a turnaround in consumer spending that rejuvenates corporate profits and encourages marketers to expand their advertising efforts."
For the second half of 2008, the firm says, ad spending figures will be helped by the Beijing Olympics and the elections.
Read it here
