TV Ad Sales Expected to Drop 13% This Year, Magna Global Says

Tim Baysinger

Magna Global, one of the largest firms responsible for buying and placing advertisements, has revised its forecast for this year and next due to the uncertainties surrounding the coronavirus pandemic and its eventual economic impact. Labeling the pandemic as a “combination of the Great Recession and 9/11,” Magna Global now predicts traditional media advertising to decline by 12% this year, including a 13% decline in national TV ad sales. For the TV business, 2020 was supposed to be a brief stemming of yearly declines because of political spending for the general election and the Summer Olympics. Earlier this week, the IOC officially delayed the Tokyo Summer Olympics until next year. Political ad spending, which is still trending 26% higher when compared to the 2016 cycle, will stabilize the local TV sector, which is expected to see a massive downturn in all other forms of ad sales. Magna predicts full-year revenues for local TV will still be up 1%. Also Read: How Late-Night TV Hosts Are Staying on Air While Working From Home Like the Rest of Us “The current situation is totally unprecedented, but the closest historical equivalent would be a combination of the Great Recession and 9/11; a brutal...

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