UBS media analyst Michael Morris has forecast US advertising spending of $172 billion in 2009, down from $183 billion in 2008.
Overall, TV ad spending is expected to drop 8% to $44 billion from 2008. Local TV stations, in particular, will be getting the brunt of the drop said Morris – down 12% to $26 billion.
Estimates are that local TV will grow slightly in 2008 – 5% to 8% over 2007 – but will not hit its usual double-digit percentage increases for an Olympic/political year.
National TV network is expected to fare better than local TV, with broadcast networks down 2.9% to $17 billion, with cable down 2.6% to $27 billion, said Morris.
A recent revised forecast from ZenithOptimedia predicted that the US would see 0.7% adspend growth in 2009 (see ZenithOptimedia Lowers Global Adspend Forecast).
US advertising spending for the first half of 2008 declined slightly compared to the same period last year, according to recently released figures from Nielsen Monitor-Plus (see US Adspend Declines Slightly In First Half Of 2008).
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