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Advertising Market: Pessimism Among European Agencies is Rather High In 2020

Maria Gourtsilidou | July 06, 2020

Advertising Market: Pessimism Among European Agencies is Rather High In 2020
The Ad World Masters agency presented a new survey about the advertising market globally and how is affected by the coronavirus pandemic. The Ad World Masters surveyed over 200 agency owners and top managers from 55 countries to evaluate their expectations and understand the condition of creative firms all around the globe. According to the survey, 57% of agencies expect their annual income to be lower in 2020 than in 2019. Though, an equivalent fraction (53%) believe they will get back on track after a few months. Furthermore, 27% of the agencies foresee an increase in their business this year despite the coronavirus pandemic. More than 40% of the agencies – mainly the larger ones- is estimated that will go bankrupt in 2020, while the smaller ones will gain from the situation.  Also, 16,3% of respondents at the survey predict no change in income for their agency in 2020 compared with 2019. Some optimists expect an increase. 20% of the respondents expect an increase of about 9,4%, while 10% of the respondents expect an increase of about 6,9%.

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