Research firm Forrester: US ad spending will decline by 25% this year and won't recover until 2023, and in 2020 and 2021, ad agencies will shed 52,000 jobs
Tiffany Hsu / New York Times : Tweets: @glenngabe , @lionelmedia , @davidsable , @nytnational , @myles_younger , and @mohammadfarooq_ See also Mediagazer Tweets: Glenn Gabe / @glenngabe : Forrester: US ad spending will decline by 25% this year & won't recover until 2023. In 2020 & 2021, ad agencies will shed 52K jobs (half not returning) “Ads have become simpler & more practical. Campaigns are often produced quickly and on the cheap...” https://www.nytimes.com/... https://twitter.com/... @lionelmedia : Follow @LynnShawProd as she absolutely and completely eviscerates the “entertainment” industry that is devolving and desiccating before your very eyes. Her accuracy is brutal. And so needed. https://twitter.com/... David Sable / @davidsable : And the good news....Advertising is thriving even if all the agencies aren't. We need more ingenuity along with the innovation. Better ideas. Smarter production. More People First focus. Advertising is alive and well....it's excess that's in trouble. https://www-nytimes-com.cdn.ampproject. org/ ... @nytnational : The advertising industry is in the midst of “a big correction” as the pandemic forces “decades of innovation in a few short months,” including new technology, workforce arrangements and spending strategies. https://www.nytimes.com/... Myles Younger / @myles_younger : Um, you realize that most people who work in marketing & advertising do not dwell in a world of glitzy excess, work quite hard, and wield considerable domain expertise. We aren't idiots. That's a lazy starting premise. Advertising is difficult. https://www.nytimes.com/... https://twitter.com/... Mohammad Farooq / @mohammadfarooq_ : The marketing business is going through a period of innovation as it sheds workers and tries to hold on to clients. https://www.nytimes.com/... See also Mediagazer