Global ad market will take years to recover from COVID-19

Global advertising spend is on course to fall by 10.2% – $63.4bn – to $557.3bn in 2020, WARC Data predicts, as traditional media have their worst year on record.

The details are set out in a new report, WARC Global Advertising Trends: State of The Industry 2020/21, which says it will take at least two years for the global ad market to fully recover. A forecast 6.7% rise in 2021 will only recoup 59% of 2020’s losses; the market would need to grow by 4.4% in 2022 to match 2019’s peak of $620.6bn.

“2020 was the most hostile year for the advertising economy ever seen in our 40 years of market monitoring,” says James McDonald, Head of Data Content, WARC, and author of the research. “Some platforms – such as e-commerce and social properties – have emerged relatively unscathed, but the vast majority of the media landscape has witnessed a severe material impact.

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