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12/23/2008

Marketing & Communication Budgets In Major Decline

Total marketing budgets will decline by $56 billion between January 2008 and December 2010, reports the updated Jack Myers Advertising & Marketing Investment Forecast 2008-2010.

If current projections hold, advertising revenues will decline in this period for the first time since the 1930s, and total marketing communications budgets will decline for the first time since the Great Depression.

Marketing expenditures peaked in 2007 at $756 billion. By 2010, marketing budgets are forecasted to decline by about 7.5 percent. Total marketing budgets are declining in 2008, driven by a 2.4-percent drop-off in advertising investments. Myers projects total ad budgets will decline 6.7 percent in 2009, with total marketing communications spending declining 4.1 percent.

Myers also forecasts that advertising spending will not recover until 2011, possibly 2012. �I am therefore projecting a continuing slide in ad spending of 2.3 percent in 2010, with an even steeper 2.6-percent decline in total marketing budgets driven by a shift away from traditional direct marketing and trade promotion spending,� he writes in his report.

The projected fall in ad spending in 2009 is attributed to: newspapers - 15%, consumer magazines - 13%, radio - 12%, local TV - 10.5%, with a slight 2.7-percent growth in online spending.


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