The company, which is part of Publicis Group, announced in its latest forecast that there would be no “summer of love” for commercial broadcasters and added that the downgrade was as a result of a decline in spending from retailers and FMCG companies.
In March, the firm said that it expected UK TV advertising revenue to increase by 1% but it has revised this and is now forecasting growth of 0.5%. This comes as the company also reduces its advertising forecasts for spending across western Europe, down from 2% to 1.5%, and across central and eastern Europe, down from 8% to 6.5%.
“The ad market slowed in April and May as advertisers became more cautious about the state of the global economy,” the company noted in a statement.
Over-75s free licence fee transition period ends digitaltveurope.com/2021/08/02/ove… https://t.co/Rk3Slkw5Ak
02 August 2021 @ 12:30:00 UTC
Sky News Australia gets YouTube ban and channel strike over Covid-19 misinformation digitaltveurope.com/2021/08/02/sky… https://t.co/hgYijS7HKn
02 August 2021 @ 11:51:59 UTC