The first half of 2009 has drops in ad spending across all media—even online—but advertisers are more optimistic about the latter part of the year, according to JPMorgan.
The company’s “Advertising Outlook 2H’09 and 2010” survey found that more than one-half of US media buyers and planners polled think second-half spending will be higher than first-half outlays. Only 10% predict spending declines.
The majority of media buyers and planners reported they were paying less in 2009 than the previous year for ads across all media. Nine out of 10 respondents said prices had gone down for radio and outdoor, while 85% reported the same for magazines and newspapers.
The fewest respondents—still 65%—claimed declining prices for cable TV, search and the “other” category.
Cable TV, seen mainly as a branding medium, and online advertising, popular for direct response, were both expected to gain market share in 2010, as ad spending bounces back slightly. About 40% of those polled thought 2010 spending would be roughly flat with 2009, while one-half thought spending would be up at least 5%.
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Check out today’s other article, “Brand Personality and Digital Strategy.”