In December, analysts predicted advertising spending in the United States would fall 10 percent in 2009 and grow one percent in 2010. Just three months later, the picture has gotten even bleaker. Barclays Capital's U.S. Media and Internet group believes revenue will fall 13 percent and 1.5 percent during the same time periods.

Furthermore, Barclays analysts wrote that many media properties would be among the hardest hit.

We seem to be using this down arrow illustration a lot these days.