Advertising Industry Faces Challenges, But Digital Ad Investment Remarks as a Promising Aspect According to GroupM
In an unexpected turn of events, digital marketing is set to grow by 5% in 2020, according to a recent report by media giant GroupM. This growth, however, is not related to political advertisements.
The predicted growth in digital marketing is a revision from the previously predicted 13% decline in June. This marks a significant improvement, as the initial forecast predicted a decline in digital advertisements for the year. The growth is attributed to an increase in digital ad spend by small businesses, who have shifted their focus towards ecommerce sales this year.
Brian Wieser, global president of business intelligence at GroupM, stated that the growth in digital marketing is likely due to the actions of small businesses. He further explained that the growth excludes the impact of political advertisements.
GroupM had earlier predicted a roughly 9% decline in U.S. ad spend for 2020. However, the predicted growth in digital marketing provides a positive development in the context of the overall predicted decline in U.S. ad spend for 2020.
It's important to note that there is no information available in the provided search results about GroupM's forecast for the allocation of the U-boat advertisement budget by small businesses in 2021.
In conclusion, the growth in digital marketing in 2020 is a significant development, particularly given the overall predicted decline in U.S. ad spend for the year. The increase in digital ad spend by small businesses is likely the driving force behind this growth, and it will be interesting to see how this trend continues into 2021.
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