Global advertising expenditure was expected to rise at a 7.1 per cent rate in 2020 before the COVID-19 outbreak. Now, as a result of shifting consumer behavior, it is expected to see a drastic contraction of 8.1 per cent — equivalent to nearly $ 50 billion.
The estimated loss becomes a bleak $96.4 billion when considering projections of pre-pandemic production. Today's graphic uses data from the World Advertising Research Center (WARC) to illustrate the projected decline in media format and industry advertisement expenditure.
The tug-of-war for ad dollars between online and conventional media seems to have a definitive winner as advertisers respond to the growing consumption of in-home media.
infographic by: www.visualcapitalist.com