U.S. advertising spending is expected to plunge this year, the world’s largest ad buyer said, in the latest sign of the pandemic's economic toll
U.S. advertising spending is expected to plunge by 13% this year, the world’s largest ad buyer said, the latest sign of the toll the coronavirus pandemic is taking on businesses and economic activity.
GroupM, a unit of WPP PLC, expects ad spending in the U.S. to drop to $207.9 billion this year from $238.8 billion in 2019, excluding political-ad outlays. As recently as December, the company was forecasting U.S. ad spending would rise by 4% in 2020.
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