As the coronavirus continues to take a toll on essentially every major sector of the economy, media and advertising is no exception.
On a global scale, a reduction in expected growth for advertising is seen due to the impact of COVID-19, according to a report from research firm eMarketer. The firm said as of now, global ad spend is expected to increase this year to $691.7 billion, down from an earlier estimate of $712 billion. But this could again change for the worse if the 2020 Summer Olympics in Japan set to air on NBC are ultimately canceled or postponed. EMarketer’s research assumes the event will go on as planned, although that is increasingly unclear as major global events are being canceled daily.
The cut in the projection “is due primarily to one country: China,” the firm said. In that country alone, still a growth market for media and advertising led by digital platforms, eMarketer said total media spend will drop to an estimated $113.7 billion, from an earlier forecast of $121.1 billion. China’s advertising growth rate is also projected to decrease to 8.4 percent from an initial 10.5 percent. China is the second-largest ad market, after the U.S.
“Despite the increase in
On a global scale, a reduction in expected growth for advertising is seen due to the impact of COVID-19, according to a report from research firm eMarketer. The firm said as of now, global ad spend is expected to increase this year to $691.7 billion, down from an earlier estimate of $712 billion. But this could again change for the worse if the 2020 Summer Olympics in Japan set to air on NBC are ultimately canceled or postponed. EMarketer’s research assumes the event will go on as planned, although that is increasingly unclear as major global events are being canceled daily.
The cut in the projection “is due primarily to one country: China,” the firm said. In that country alone, still a growth market for media and advertising led by digital platforms, eMarketer said total media spend will drop to an estimated $113.7 billion, from an earlier forecast of $121.1 billion. China’s advertising growth rate is also projected to decrease to 8.4 percent from an initial 10.5 percent. China is the second-largest ad market, after the U.S.
“Despite the increase in
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