US auto maker advertising spending down almost 10%
July 9, 2008
It doesn’t take a rocket scientist to know that the ad market is going to be tough, especially for traditional media.
US advertising spending will grow at roughly half the pace originally forecast this year, a leading media services group said on Tuesday, blaming the downward revision on a slowing economy.
But this is the gem
Among major advertisers, one of the worst-hit sectors so far has been the automotive industry, where MAGNA is expecting ad spending to fall 9 per cent in 2008.
The automotive area is virtually the biggest media purchasers. A fall of 9% in that sector will literally drag down the entire figures for the country as a whole.
We hate recessions.
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[...] The Founder notes over at Tribble Ad Agency, this is absolutely terrible news for traditional media, as auto ad spend is their bread and butter. There have already been signs of the auto industry is [...]
Perhaps it’s just their traditional media advertising dollars that are being cut. I wonder if they’re beginning to divert some of those funds for other types of marketing, most notably the internet and other social media marketing?