U.S. advertising spending, excluding political advertising, will drop 12.9 percent in 2020 to $207.9 billion driven by the novel coronavirus pandemic and resulting recession before swinging to a 4 percent gain in 2021 to $216.6 billion, ad giant GroupM forecast late on Monday.
That drop will not be as bad as the 16 percent drop seen in the 2009 financial crisis, according to the firm. "By now, the ad market’s decline is abating after an initial freefall that impacted many types of media beginning in late March," explained Brian Wieser, GroupM's global president, business intelligence, in a report.
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