General News

Worst ad turndown in a decade, predicts media buyer

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Aug 31, 2001 | 2:27pm EDT

Zenith Media, the media-buying unit controlled by France's Publicis Groupe, is predicting the worst turndown in ad buying in more than a decade. As reported by today's (Friday) London Financial Times, global advertising is expected to fall 2.6 percent in 2001; advertising in the U.S. is expected to plunge 4.2 percent. Zenith also lowered its predictions for ad spending on the Internet. "Until the Internet can demonstrate to national advertisers the ability to brand on the Web, the new medium will not experience significant growth," the report said. The report also blamed "the bursting of the dot-com bubble" as a significant factor in the advertising recession as a whole.

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