The End Of The Ad Slump

Good news, kinda. The worst is over – but it’s going to take a while for ad sales to bounce back. From Deborah Yao for the Associated Press:

An advertising forecaster said Monday that the worst is over for the U.S. ad slump but that across-the-board revenue growth won’t resume until well into 2011.

Magna, a unit of the Interpublic Group of Cos., estimated second-quarter ad revenue fell by 18 percent and said revenue will fall 14.5 percent for the year — the worst showing since the Great Depression.

“The economy accounts for the bulk of that decline,” said Brian Wieser, Magna’s global director of forecasting. “Every sector is being pulled down by this decline, every media that takes ad support.”

Found via Romenesko