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Advertising industry: The upswing was yesterday

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  • Herbert Hofmann

Abstract

The advertising industry only had a few years to recover from the considerable declines in growth after the dot-com crisis. Now the cyclically dependent sector is on the brink of another downturn. 2009 will be a difficult year for advertisers and the advertising media. A decline in spending on advertising of at least 1 to 2 percent is expected. For the first time in four years the industry has reported a decline in demand for advertising personnel. The turnover of the advertising agencies, which in 2007 recorded growth of approximately 4 percent, will grow only by ca. 2 percent in 2008. The outlook for 2009 is predominantly gloomy. The signals from the marketing departments are reserved. The business climate of the printing-houses has also worsened, which is primarily attributable to a strong decline in the print advertising market.

Suggested Citation

  • Herbert Hofmann, 2008. "Advertising industry: The upswing was yesterday," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 61(22), pages 52-54, November.
    • Handle: RePEc:ces:ifosdt:v:61:y:2008:i:22:p:52-54
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    JEL classification:

    • M37 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Advertising

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