The Myers Report released new data last week on the state of the media and advertising economy, reflecting the anticipated impact of COVID-19 and the resulting economic downturn. Our forecasts are more bearish on 2020 ad spending and, unlike other forecasters we're projecting a long economic recovery pattern that will continue to be reflected by a local, regional, and national advertising recession. The Myers Report does not expect total advertising investments to return until 2024/2025 to 2019's $215 billion. We forecast declines of 20% in 2020 followed by increases in 2021 and 2022 of only 8% annually, bringing 2022 ad spending only to $202 billion. For insights and more details on our forecasts scroll down and you can view my economic conversation with analyst Michael Nathanson of MoffettNathanson here.
COVID-19 Media Economy: 2020-2022 Outlook
