So WPP’s media buying unit GroupM released its US ad spend figures on Tuesday and, all in all, the pandemic fallout was not as bad as many had initially anticipated. Especially if you happened to be named Google, Facebook or Amazon.
Back in June, GroupM projected a 13% decline in 2020 but now, it’s anticipating an 8.8% decline (excluding political spend), to $215 billion – with growth resuming in 2021.
Much of that optimism is buoyed by digital, which will grow 5% in 2020, and 18% next year – at which point it will constitute 55% of all advertising spend.
Of course, most of that goes to the triopoly – isn’t that always the case?
In this episode of The Big Story, GroupM’s global president of business intelligence Brian Wieser stops by to talk about ad spend in the United States.
We’ll chat about the K-shaped curve – not as good as the V-shaped recovery everyone hoped for but not nearly as bad as the L-shaped decline everyone dreaded – the growth outlook for certain verticals and the future of TV advertising, especially as all of the big traditional players gear up for streaming.