Advertising revenue won’t increase for at least another 12 months, says an article in Ad Age. In fact, we’re currently in the midst of the worst downturn since dum, dum, dum The Great Depression, with spending projected to drop in three consecutive years.
Although the recession began in late 2007, advertising on a “a measured-media basis” didn’t decrease until a couple months later, in March 2008. The outlook for 2009 is also gloomy, with watchers predicting even less spending. Not surprisingly, retail and auto advertisers were among the biggest culprits.
But there’s some good news…
According to the article:
The upside? Business runs in cycles. The recession means reduced consumption, but that creates pent-up demand that can help drive recovery. Marketers still in the game will have money to spend on advertising, promotion, and other marketing programs. It will be up to media and non-media alternatives to make a play for those dollars.