Aegis Group’s media firm Carat has revised its forecast downward for both global and U.S. ad spending during the full calendar year 2009. Back in March, Carat projected a 5.8 percent decline in worldwide ad expenditures for ’09 as compared to the prior year. That figure has now been elevated to 9.8 percent due to lowered performances in all regions except for Asia Pacific which sports a marginal uptick.
Looking ahead to 2010, Carat sees significant improvement, going from a loss in ’09 to modest growth pegged at one percent globally. Carat attributed the turnaround to what it foresees as more stable conditions in the West and recovery in developing markets, particularly China.
Online advertising remains the only area of the media that will see growth this year, estimated at one percent globally. Online growth remains in double digits in the markets of Asia-Pacific and Central and Eastern Europe this year. However, low single digit growth in Western Europe and a decline in the U.S. have led to a downward revision in forecasts. Online growth should continue to make significant progress in 2010. Of the sectors, TV and cinema continue to hold up best, reflecting the relative popularity of cinema and home entertainment in the downturn.
Stateside report
However, the ad market in the U.S. is much slower, according to Carat. U.S. advertising spend in the first half of ’09 was well below the level in ’08. Previously committed activity was scaled back while significant incremental spending has not materialized this year. Carat’s revised full year projection for ’09 shows a 16.3 percent decrease in the U.S. when stacked up against ’08. The March ’09 forecast from Carat had predicated only a 9.8 percent increase stateside.
As for prospects for the U.S. in ’10, Carat concluded that a significant recovery could not be expected until the second half of that year at the earliest. All major media categories are tracking below last year. National television and radio have been holding up better, due to their ability to drive strong reach and awareness. Newspapers continue to be hard hit by both the weak economy and consumers spending more time online. The real estate and automotive categories have cut back sharply and classified advertising is weak. Digital losses have been softened by some traditional media spend shifting over and the continued strength of search advertising. Online video has also experienced growth; however online display has been much more negotiable in terms of price.
CEO’s assessment
Of the significant forecast revisions globally and in America, Aegis Media CEO Jerry Buhlmann said they “are not unexpected in the context of the recent volatility of the market, and represent a cautious attitude towards adspend this year, most significantly in the U.S. and Europe.”
He added, “Despite the reduction to forecasts for 2009, we still believe that 2010 will see growth, albeit very modest. We expect the market to bottom out in North America and Europe, and to improve further in developing markets. Even after that initial recovery, however, the global advertising market will still be below its absolute 2006 level.”
Nominees Unveiled For Cinema Audio Society’s 61st Annual Awards
The Cinema Audio Society has unveiled its nominees in seven categories for the 61st Annual CAS Awards for Outstanding Achievement in Sound Mixing 2024.
The 61st CAS Awards will be held on Saturday, February 22, at the Beverly Hilton.
Nominated in the live action motion picture category were the audio teams behind A Complete Unknown, Deadpool & Wolverine, Dune: Part Two, Gladiator II and Wicked.
Animated motion picture nominees were the sound ensembles behind Inside Out 2, Moana 2, Mufasa: The Lion King, The Wild Robot and Wallace & Gromit: Vengeance Most Fowl.
As previously announced, multi-award-winning sound mixer Tod A. Maitland CAS (A Complete Unknown, West Side Story, Joker), will be honored with the CAS Career Achievement Award. In addition, visionary filmmaker Denis Villeneuve (Dune: Part Two, Blade Runner 2049, Arrival) will receive the Cinema Audio Society’s Filmmaker Award.
The CAS Award nominees highlight the outstanding contributions of sound mixers, recognizing excellence in the specialized craft of sound mixing for both film and television. Each year, accomplished CAS members—who possess extensive expertise in the art and science of sound—carefully review hundreds of projects to ensure the nominees truly reflect excellence in sound mixing in Motion Picture and Television entertainment.
“2024 was a year of remarkable achievements in the sound community, with exceptional talent on display across every category,” said CAS president Peter Kurland. “The innovation and artistry of these sound mixers continue to elevate the craft, and the upcoming awards will be a celebration of the outstanding contributions made this year. Congratulations to... Read More