A long, hard road ahead for most: Ad spend forecasts for 2009
Colin Macleod
As the global economy lurches into one of its most tumultuous periods ever, history shows this will have a major impact on ad expenditure.
In the UK, annual display ad spend has only once fallen by more than 10% in real terms in the past 30 years – and that was during the 1991 recession. In the years when the economy grew by more than 3.5%, display advertising grew on average by 7.5% at constant prices, after adjusting for inflation. In the years when economic growth...