Looking At The Bright Side -- Ad Spending Growth For Later This Year
"As our nation emerges from recession, we believe the worst is behind us and expect to see a slight industry rebound by the onset of the third quarter of 2002," says David Peeler, President and CEO of CMR.
After ad spending jumped to $104.5 billion in 2000, it fell strongly last year, thanks to the shabby economy and the events of Sept. 11. It was the worst year over year showing since the 1990-91 recession.
CMR projects more falloffs for early 2002 -- a Q1 dip of 5.4% and a Q2 drop of 3.3%. But in Q3, CMR expects revenue will jump 3% and in Q4 it will leap 10.9%. But, CMR says, "This rebound is relative to the depressed levels of the third and fourth quarters of 2001."
Internet advertising will lead the way, growing 8.8% this year. Smaller increases are predicted for newspapers (3.1%t), network TV (2%), cable TV (1.1%), magazines (0.6%) and outdoor (1.8%).