The ad industry statsmasters, which released a pronounced downward revision on its 2020 ad estimates for both China and the global ad economy on Friday, this morning released a more detailed outlook for China's long-term ad growth through 2024 and by major medium.
The new outlook shaves billions of dollars out of China's long-term projection as a result of both the impact of the Coronavirus, as well as the residual economic recession it is expected to trigger.
“As people are forced to stay home during the outbreak, residents of China are buying fewer print newspapers and magazines,” eMarketer Forecasting Analyst Brian Lau states in the updated report. “Delivery services are also being interrupted. This means that the already struggling print ad market will see even lower demand.”
In its revised outlook, eMarketer currently projects estimates for worldwide ad spending will
decline by about $20 billion or 3% from its previous projections.