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Forecast: 2020 ad declines to rebound in 2021 – Advertising

Forecast: 2020 ad declines to rebound in 2021 - Advertising

PQ Media has released their global media spending report, and among the more interesting findings is this: a rebound is ahead for media spending, pushed in many cases by video, podcasts, gaming, and influencer campaigns. This after 2020 saw global media spending decline nearly 7%, and media spending falling 7.1% in the US.

“While the economic damage wrought by the pandemic will squelch a decade-long expansion of the media economy this year, the emergence of new advertising and marketing opportunities in streaming video and audio; mobile gaming and apps; social media and influencer marketing; and digital product placement, content marketing and virtual events are expected to hasten the industry’s recovery going forward,” said PQ Media CEO Patrick Quinn.

According to the PQ Media Global Advertising & Marketing Spending Forecast 2020-2024:
▪ The Global Ad Sector will decrease 7% to only $583 billion for 2020
▪ The Global Marketing Sector will decrease 6.6% to reach only $694 billion for 2020
▪ Global media spending will increase 5.9% in 2021
▪ Digital/alternative media spending will lead the way with an 11% increase in 2021

Moving forward from 2020, Quinn believes brands must embrace how consumers are spending their online time post-pandemic.

“Brands utilizing digital branded media are capitalizing on the increased time these key demographics are spending on mobile, social, online, and streaming media by using influencers, videos, podcasts and interactive game experiences,” Quinn said.

Tags: 2021 advertising forecast, advertising, advertising campaign, advertising forecast, advertising trends, ecommerce, PQ Media

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