WPP’s GroupM originally thought that the global advertising market for measured media would be down 4.4% for 2009, but its latest estimate is a bitter pill, with losses now expected to reach 5.5%. It sees the losses moderating to only 1.4% for 2010. The worldwide bottom line is expected to be $417B for 2009 and $411B for 2010.
The US defeats the pattern, and that’s not really a good thing – WPP/GroupM sees a 4.3% decline in advertising spending for 2009, then an even bigger 6.5% drop in 2010.
Shortly before the study was released, WPP CEO Martin Sorrell commented on the situation. He told an Italian periodical, “Compared with three months ago confidence has risen, managers are showing a change, but they have not translated that into new investments Heart and wallet remain divided,” he said.
WPP says BRIC will lead the international recovery. BRIC stands for Brazil, Russian, India and China. It expects that United States, Britain, Canada, France, Germany, Italy and Japan will all lag behind.
RBR/TVBR observation: Sometimes we find ourselves thinking along the lines of Ebenezer Scrooge after getting his tour of the future from the third ghost. Are these images of things that will be, or might be? Let’s reverse this trend. Go on a trip, people! Go to dinner! Buy something!