CMR Sees Ad Spending Boost In Late 2002
Jan 22, 2002, 12:00 AM
Ad spending is expected to rise 1.5% in 2002, up to $96.1 billion from an estimated $94.6 billion in 2001, according to the full-year forecast just released by CMR, a provider of strategic advertising and marketing communications information. According to CMR, 2001 was a lot weaker than many expected. In the banner year of 2000, total ad spending across all media was $104.5 billion. Early estimates indicate that full-year ad spending for 2001 will be down 9.4% to $94.6 billion - far and away the worst year-over-year showing within the past ten years. According to CMR, spending will continue to be soft through the first half of this year, although the declines will be much less than those seen in the third and fourth quarters of 2001. The advertising industry expects a modest boost from upcoming major events, such as the Winter Olympics, which is taking place in the first quarter of 2002. CMR expects that the market will begin to rebound beginning with third quarter of 2002. However, this rebound is relative to the depressed levels of the third and fourth quarters of 2001.