The U.S. Ad Market Tracker fell for the tenth consecutive month in April, albeit at the most moderate rate since the current ad recession began in July 2022.
The April index fell 1.5% from the same month in 2022, and represents the smallest decline since September 2022.
The data signals that the erosion in demand from the nation's biggest advertisers and agencies may be nearing bottom, especially among the largest advertising categories.
Demand from the top 10 categories fell 1.2% in April, while all other categories declined 2.0%, according to a MediaPost analysis of the data.
Digital media's share of U.S. ad spending rose four points to 60% in April vs. 56% for the same month a year ago.
The tracker, a composite monthly index of actual ad spending from the major agency holding companies and independents that pool their data through Standard Media Index, indicates that at least that portion of the U.S. ad economy appears to be in recession.