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Ad Agencies Can Expect A Bumpier Ride Than During 2008-09 Recession, But Clients Will Still Come Calling – Report

10.07.2020 - 14:21

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deadline.com

deadline.com:

By Dade Hayes Finance Editor Without live sports or active production due to COVID-19, U.S. television advertisers are leading a dramatic retreat from all marketing platforms, with the effects on several stakeholders likely to linger into 2021.

Ad agencies have been absorbing the shock for more than a month now, and a new report from Wall Street research firm MoffettNathanson warns, “This will get bumpy.” Analyst Michael Nathanson, delivering 20% to 30% reductions in earnings estimates for Omnicom, WPP and Interpublic, says their flexible business models will enable them to weather the storm.

The pain, though, will be more intense than the 2008-09 recession. “This time will be worse,” Nathanson predicts. “We are projecting agency organic