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The continuing COVID-19 outbreak means a less-than-rosy outlook for media owners’ net advertising revenue forecasts. Media suppliers’ total linear ad sales, previously expected to hold steady this year, are now projected to decline by nearly 12% in 2020, according to a revised ad forecast from the IPG Mediabrands-owned Magna Global. Full-year ad sales are expected to drop by 2.8% across all media, when they had previously expected to grow nearly 7%.
The impact will be most severe for print media, which is expected to be hit with a 25% loss in advertising sales in 2020 compared to the previously forecast 17% decline.