Advertising agencies in the US have not seen a rise in spending yet, says Merrill, and many advertisers are unwilling to commit to spending very far ahead of time. Merrill Lynch points out that media companies will mostly enjoy easier comparables during 2002 as advertising hit its severe downturn in early 2001.
Agencies – which benefitted during the first half of 2001 from market share gains, gains in marketing services and ad campaign spending – must wait until the second half of this year before they benefit from easier comparables.
