Global advertising spend is on course to fall by 10.2% – $63.4bn – to $557.3bn this year, led by sharp cuts in investment among the automotive, retail and travel & tourism sectors as a result of the Covid-19 outbreak finds WARC, the global marketing intelligence service.
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The new projections, based on data from 100 markets worldwide, represent a downgrade of 2.1 percentage points compared to WARC’s previous global forecast of -8.1% made in May. It will take at least two years for the global ad market to fully recover, with a forecast 6.7% rise in 2021 only enou
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