Three's no charm for reeling ad biz
EmptyThe advertising business in the U.S., for the first time, will fall for three straight years, if a forecast released Monday is correct.
According to the Jack Myers Media Business Report, media revenue generated through advertising declined 4.2% last year and will fall another 12% this year, then as much as 7% in 2010.
The figures are based on an overview of industry analysis, the latest data on fourth-quarter and first-quarter spending, GDP figures and a study of the top 100 advertisers conducted by Goldman Sachs.
Media company advertising domestically peaked at $234.7 billion in 2007, growing 3.6% from the year before. In 2010, it is projected to decline to $187.7 billion.
Leading categories on the downside are newspapers and local and regional spot cable TV.
Advertising categories still showing growth include video games, cinemas, satellite radio and most sectors of online ads. (partialdiff)