Due to the bad economy in the U.S advertising is harder than what most would expect, with revenue falling from $77 billion in 2008 to $67 billion in 2009, according to the Yankee Group.
According to the report “2009 Advertising Forecast Update: Less TV, More Internet,” most of the decline was because of TV advertising, which took a small dip from $52 billion in 2008 to $41 billion in 2009.
“The 2008-2009 recession drove down the value of everything-from home prices to TV advertising revenue,” said Carl Howe, director at Yankee Group and author of the new report.
“As consumers have become worried about the economy, they’ve reduced the amount of time they spend on media to less than 12 hours a day, down from nearly 14 hours in 2008. This shift in behavior has caused ad revenues to drop significantly.”
TV watching has gone down a full hour per day. Consumers spend 3 hours and 17 minutes watching TV and movies. Even though the time consumers spent online has gone down by 40 minutes per day from 2008 to 2009, they still spent more time online, which was 4 hours and 13 minutes each day.
Good news is, Internet advertising revenue has gone up from $24 billion in 2008 to almost $26 billion in 2009.