Ad spend drops 28.4% in July – SMI optimistic about slowing decline

September 2, 2020 9:50

The media agency-funded ad market improved in July, with the COVID-19 induced decline slowing to a 28.4% drop in national marketer spend, compared to a slide of 35.7% in June, 40.4% in May, and 35.3% in April.

Standard Media Index (SMI), which compiles the numbers, said that early August figures look better again, back 25.2% excluding digital media with three trading days to go, thanks to advertisers spending more in August than they did for the entirety of July.

In July though, all media reported significant, double-digit declines. Cinema was back 96.2% (worse than June’s 86.9% drop), outdoor 65.7% (a slight month-on-month improvement), and magazines 59.7%.

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Brittney Rigby

Brittney Rigby was Mumbrella's deputy managing editor - news and analysis. She left Mumbrella in April 2021.