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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Interpublic Group of Companies | TG:IPG | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.055 | -0.20% | 27.15 | 27.035 | 27.265 | 27.17 | 27.17 | 27.17 | 37 | 22:50:17 |
By David B. Wilkerson
U.S. ad-supported media will see a 14% decline in advertising revenue this year, the ad-buying agency Magna said Monday, but there is room for optimism.
Magna, a division of Interpublic Group of Cos.' (IPG) Mediabrands, said the ongoing economic crisis triggered last September will continue, as ad revenue is forecast to drop to $161 billion from $189 billion in 2008.
"The first half of 2009 will likely turn out to be the worst period of this recession, during which time Magna estimates ... advertising revenues will have fallen by 18% vs. the same period in 2008," the company said.
The agency said it has reason to be "encouraged" about ad-supported media, despite the gloom of this year's first half.
"A key factor causing the worsening of the economy last year was the absence of confidence in financial markets. [However] further collapse did not occur, and confidence in the stability of the overall economy has gradually returned in recent months," Magna said.
Ad-supported media will see improvement in 2010, as ad revenue falls just 2% from 2009 levels.
Total growth in the market will "show up in the second half of 2011," Magna predicts.
-David B. Wilkerson; 415-439-6400; AskNewswires@dowjones.com
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