Ad Spending Confidence Falls To Recent Low, More Downside Than Upside For Most Major Media November 19, 2008
Posted by Mark Blei in : Uncategorized , trackbackThe confidence of U.S. ad executive spending plans has fallen to its worst point in recent history, according to the just-released Fall 2008 edition of a semi-annual tracking study of their perceptions of the strength of the media economy. Expectations for the ad spending over the next six months has declined for all media vs. previous expectations, and with the exception of three high-growth sectors – online, mobile and cable TV – the percentage of ad budgets expected to decrease outweighs those that are expected to increase, according to the findings of the Media Economy Report from Advertiser Perceptions Inc. The report, which is derived from surveys of more than 1,000 advertising executives – both marketers and media buyers – responsible for recommending and/or approving ad budgets across media, is the most devastating indication yet that the U.S. advertising economy is falling into a malaise following the credit crisis and economic meltdown that has swept through the U.S. and global marketplace since October. The news follows other weakening signs for the advertising economy, including downward revisions from industry ad trackers, reports from analysts and consultants, and a general perception that the industry is in the throes of the kind of recession it hasn’t experienced since the dot-com bust in 2001.
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