U.S. advertising, gripped by a downturn, should prepare for ad spending to return to pre-pandemic levels in 2021, according to one industry analyst
A U.S. advertising industry gripped by a downturn amid the coronavirus pandemic should be preparing for ad spending to return to pre-public health crisis levels in 2021, MoffettNathanson analyst Michael Nathanson predicted on Tuesday.
He forecast U.S. advertising growth to fall by 8.6 percent in 2020, led by a 13 percent decline in traditional spending and a 3 percent fall in online ad spending. But a digital landscape shaped by a streaming space that predates the coronavirus pandemic explains the rapid recovery forecast for next year.
New streaming video services became a boon for U.S. advertisers before the COVID-19 crisis, with new digital behemoths accounting for big jumps in domestic advertising spending, as have digital-first marketing vehicles like Facebook, Amazon and Alphabet. And 70 percent of buyers at the time said they had adjusted or paused their ad spend and 16 percent said they were still determining their course of action.
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