Magna Forecasts Lower Ad Spending
December 10, 2008 at 5:51 AM (PT)
MAGNA media analyst BOB COEN is taking a bearish outlook at U.S. ad spending, issuing his forecast that revenues will fall 3.2% to $270.8 billion in 2008 and 4.5% to $258.7 billion in 2009.
COEN, the firm's SVP and Dir. of Forecasting, sees national radio looking at a 10% drop to $3.828 billion in 2008, its decline matching that of newspapers, and local radio off 8% to $13.707 billion, while cable will be up 4%, the big 4 TV networks will rise 3.5%, syndicated TV will grow 7%, spot TV will fall 3%, and magazines will slip 6% for the year.
For 2009, COEN sees national radio off 6.5% to $3.579 billion and local radio down 6$ to $12.884 billion.