New data from Standard Media Index (SMI) shows that although some improvements have been made in terms of ad spend this summer, Q2 is going to be difficult to bounce back from.
SMI’s most recent data shows that Q2 ad revenues fell an average of 37.1% across the U.S., U.K., Australia, New Zealand and Canada. Of those markets, Canada was the hardest hit, with total spend down 46.5%.
CEO James Fennessy said in a statement that the first three months of the crisis – March through May – already saw a stark decline, with an average drop of 28.25%. But between May and June, that decline was, in Fennessy’s words, “astonishing.”