Global ad spending is expected to fall by over $50bn due to COVID and is expected to take over two years to recover to pre COVID levels of spending, which is twice the drop experienced in the '07/'08 financial crisis. The drop is primarily driven by the auto, retail, and travel sector, which have been hit particularly hard by the pandemic. However, much of this decline is attributable to traditional marketing. Online marketing by contrast, which accounts for half of spend, is flat year over year. The only sub category that should experience growth is online video. This isn't all that surprising but further reinforces the idea that the pandemic has imply accelerated trends that were already in motion.
https://www.marketingdive.com/news/ad-spendings-retraction-because-of-covid-19-is-worse-than-expected-warc-s/589870/
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