A new analysis of ad spending by the major ad agency GroupM finds that spending on the 2020 presidential election is helping the overall market, but TV advertising remains “soft.”
Deadline reports that the study sees U.S. advertising overall rising an estimated 6.2% in 2019.
“Even after the wave of political spending peaks, 2020 is expected to see growth of 4%, the agency predicts in a report it released Tuesday,” Deadline adds. “Overall spending has posted mid-single-digit growth in each of the previous three years.”
The report is quoted saying that despite the overall rise, which spans outdoor, direct mail and every other category, TV advertising is “soft as we close 2019 … and will end the year with a 7% decline.”
Excluding political, TV advertising for 2019 is expected to fall 2% to $65 billion.
The GroupM report adds: “We expect this declining trend to persist, even with new forms of premium TV advertising regularly emerging.”