NEW YORK — An advertising forecaster said Monday that the worst is over for the U.S. ad slump but that across-the-board revenue growth won't resume until well into 2011.
Magna, a unit of the Interpublic Group of Cos., estimated second-quarter ad revenue fell by 18 percent and said revenue will fall 14.5 percent for the year -- the worst showing since the Great Depression.
The slump should moderate to a decline of 2 percent next year, with some media outlets showing growth such as online, broadcast, cable and outdoor, Magna said. Overall growth is not expected until the second half of 2011, and the average annual growth from 2009 to 2014 is expected to be an anemic 1percent.
Search ads that surround search results such as the ones offered by Google is the only category not expected to show a decline in 2009.