U.S. advertising, gripped by a downturn, should prepare for ad spending to return to pre-pandemic levels in 2021, according to one industry analyst
A U.S. advertising industry gripped by a downturn amid the coronavirus pandemic should be preparing for ad spending to return to pre-public health crisis levels in 2021, MoffettNathanson analyst Michael Nathanson predicted on Tuesday.
He forecast U.S. advertising growth to fall by 8.6 percent in 2020, led by a 13 percent decline in traditional spending and a 3 percent fall in online ad spending. But a digital landscape shaped by a streaming space that predates the coronavirus pandemic explains the rapid recovery forecast for next year.
New streaming video services became a boon for U.S. advertisers before the COVID-19 crisis, with new digital behemoths accounting for big jumps in domestic advertising spending, as have digital-first marketing vehicles like Facebook, Amazon and Alphabet. And 70 percent of buyers at the time said they had adjusted or paused their ad spend and 16 percent said they were still determining their course of action.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Plastic Businesses See Boom In Demand For Sneeze GuardsBusinesses that make and sell plastic are facing a boom in demand as more shops install barriers or 'sneeze guards' as a safety measure against COVID-19.
Read more »
Dollar edges higher as Hong Kong tensions fuel safe-haven demandThe dollar edged higher on Monday as worries about a standoff between the United States and China over civil liberties in Hong Kong fuelled demand for safe-haven currencies.
Read more »
Dollar edges higher as Hong Kong tensions fuel safe-haven demandThe dollar edged higher on Monday as worries about a standoff between the United States and China over civil liberties in Hong Kong fuelled demand for safe-haven currencies.
Read more »
New California Relief Program for Undocumented Overwhelmed By DemandA new state-wide program to get financial help for the nearly 2 million illegal immigrants in California was nearly overwhelmed by the demand within its first week. But there's only enough aid for 250,000, leaving 1.75 million without assistance.
Read more »
Hong Kong demand for VPNs surges on heels of China's plan for national security lawsDemand for virtual private networks in Hong Kong surged more than six-fold last Thursday as Beijing proposed tough new national security laws for the financial hub, reflecting concerns over internet privacy, according to a VPN provider.
Read more »
Farmer John meatpackers demand closing of Vernon plant struck by COVID-19 outbreakThe union representing workers at the Vernon plant that makes Dodger Dogs said the facility should be shut down pending cleaning and an investigation.
Read more »