A recent article in The Message highlights new data showing that ad spending across major advertising markets has declined dramatically due to the pandemic.
Using media agency billing data, Standard Media Index (SMI) tracked spending across the United States, the U.K., Canada, Australia and New Zealand from the beginning of the pandemic until the end of May. The average decline was just over 28%.
“The most pronounced decline is in Canada, with ad spending falling by 36.2% during the measured time period. Canada also saw (by considerable distance) the largest three-month decline in digital investment among the five countries, with spending falling 34.3% compared to an 18.5% drop in the U.S. and a 20.8% drop in Australia.”