Approximately 400 buy-side decision-makers shared their changes to ad spend and messaging strategies with us so that we can help you better prioritize and manage through this crisis.
According to 74% of media buyers, planners and brands, Coronavirus will have a bigger impact on advertising than the 2008 financial crisis.
- 70% of buyers have already adjusted or paused their planned ad spend, while 16% is still determining what actions to take.
- Nearly a quarter (24%) of respondents have paused all advertising spend for the remainder of Q1 and Q2 while 46% indicated they have adjusted their ad spend for the same time period
- 73% of buyers are indicating that the coronavirus will have an impact on the Upfront 2020/2021 spend commitments and expect a 20% decrease in Upfront spend vs their original plan
What is happening right now?
- In the near term, digital ad spend is down 33% and traditional media is down 39%
- The majority (63%) of advertisers have already changed the messages they are touting in-market, increasing:
- Mission-based marketing (+42%)
- Cause-related marketing (+41%)
- More than a third (35%) of advertisers are adjusting their in-market tactics and are increasing:
- Audience targeting (+38%)
- OTT / CTV device targeting (+35%)