OOH Projected to be Down 21% for the Year
Two ‘M’s go out on big limb and predict double digit drop in overall US Ad spending for 2020.
The two ‘M’s are GroupM and Magna
Further, both entities forecast Out-of-Home advertising to take a 21% and 17.5% hit respectively with cinema ad sales down 36 percent.
Political ad dollars are still hanging in and will keep the losses in 2020 from astronomical calamity. Political spend is projected at $15 billion versus $8 billion in 2018. OOH is projected to see very little of the political pie which is typical.
As the advertising prognosticators bob and weave each month with new forecasts, you should know the factors which affect the future for the economy is the current high unemployment which translates to lower consumer spend, continued social unrest and a potential reemergence of a ‘spike’ in the Covid-19 outbreak.
GroupM was formed in 2003 by WPP Group to serve as the parent company of WPP’s media agencies. Think Kinetic.
MAGNA is the centralized IPG Mediabrands resource that develops intelligence, investment and innovation strategies for agency teams and clients. Rapport.
