New estimates reveal that advertising has been impacted more than initially estimated by the COVID-19 pandemic in five countries.
Second-quarter advertising revenues in the United States, the United Kingdom, Australia, New Zealand and Canada dropped 37.1% on average in the April to June period, according to Standard Media Index.
This was higher than the initial 28.2% estimate for the three-month period starting in March. May and June witnessed bigger cutbacks, SMI says.
The U.S. fared the best of the bunch -- down 30.5% in the second-quarter period, largely due to more modest declines in digital media versus other countries. Digital media dropped 18.4%, with TV advertising sinking 35.2%.
Canada tallied the worst results among the five nations, with advertising down 46.5% overall -- with digital media falling 36.1% and TV media tumbling 45.9%. Overall, the United Kingdom lost 34.8% in total advertising revenues, while Australia declined 38.2%; and New Zealand, sank 35.5%.
Four traditional media platforms fell more steeply than average -- outdoor, radio, newspapers, and magazines -- sinking a collective 57.1%. By comparison, digital media faired the best of the decliners, down 26.6%. TV dropped 36.5% during the second three months of the year.
Now SMI says the markets are improving.
The month of August shows stabilizing trends in the U.S. for television and the lowest year on-year declines for TV of any major media in Australia and New Zealand.
Looking at individual categories, pharmaceuticals have seen growth in ad spend in the U.S., while household supplies and health care are higher in Australia and government and financial services ad spend is up in New Zealand.