WPP’s GroupM reckons the the global advertising economy will lose $70 billion this year, dropping 11.8% (excluding US political advertising) to $517.5bn. With the US Presidential election the drop will be 9.9%.
Next year advertising growth is expected to reach 8.2% to $560bn. 4.7% additional growth is expected in 2022 bringing total advertising back up to where it was in 2019 at $586bn.
The decline will be less sharp in the biggest ad economies of US and China which combined account for over half of total activity.
Some other markets are expected to decline by more than 20% this year including Brazil, Spain, India, the Middle East and North Africa.
Digital advertising is expected to decline by 2.4% in 2020 to an estimated $278bn but rise to 54% of the total.
Search ads will account for $109bn, falling 2.6%. Other digital at $172bn will fall by 0.6% in 2020. Traditional media will see double digit declines.