Thanks to Lack of Sports, Advertising Revenue for U.S. Media Plummeted 31% in May

Advertisers are spending less to get their messages in front of the U.S. consumer base, thanks to fewer big media spectacles to which they can attach.

U.S. advertising revenue fell 31% in May as the nation had only a handful of major sports events take place due to the coronavirus pandemic and most major ad categories cut back the amount of money they spent significantly – by 10% or more – according to Standard Media Index, a tracker of ad spending. Among specific types of advertisers, only pharmaceutical manufacturers spent more in May than they did in the year-earlier period.