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Advertising Industry: Difference between revisions
→Advertising behavior during a recession
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== Advertising behavior during a recession == | == Advertising behavior during a recession == | ||
As economic downturn looms in 2023, the advertising industry is faced with uncertainty. According to a survey conducted among global brands, nearly 75 percent of the respondents agreed that signals of an economic downturn in 2023 influence their media budget decisions. Four out of 10 surveyed multinationals plan to maintain their advertising expenditures at the same level as in 2022, and roughly 30 percent intend to cut their media budget. <ref>https://www.statista.com/topics/10084/advertising-in-times-of-crisis/#dossierKeyfigures</ref> | As economic downturn looms in 2023, the advertising industry is faced with uncertainty. According to a survey conducted among global brands, nearly 75 percent of the respondents agreed that signals of an economic downturn in 2023 influence their media budget decisions. Four out of 10 surveyed multinationals plan to maintain their advertising expenditures at the same level as in 2022, and roughly 30 percent intend to cut their media budget. <ref>https://www.statista.com/topics/10084/advertising-in-times-of-crisis/#dossierKeyfigures</ref> | ||
It is still not clear the effects a recession could have in advertising spending, but looking back at the 3 last recessions<ref>https://www.statista.com/statistics/272443/growth-of-advertising-spending-worldwide/</ref>: | |||
* COVID-19 pandemic resulted in a 3.7 percent decrease in ad spend in 2020 compared to 2019. | |||
* During the Great Financial Crisis, advertising spending experienced a decrease of 9.5% in 2009 | |||
* During the Dot Com crisis, advertising spending saw a decrease of 4.04% 2001 | |||
== References == | == References == | ||