Total TV advertising is now set to decline by 5% in 2017, according to one analyst, who has lowered his estimates, reports MediaPost, which added, “Michael Nathanson, senior media analyst at MoffettNathanson Research, lowered his annual projection for TV, now factoring in second-quarter TV results, which sank 3.2%.
“TV stations lost 7% in advertising during the period ($2.3 billion), while cable networks were off 2.4% ($5.9 billion), local cable advertising lost $865 million, and broadcast networks dropped $3.4 billion.
“Nathanson estimates the total U.S. advertising market will grow 2.5% for the year, boosted by digital media growth continuing to earn high double-digit percentage improvements — 18.5% higher — an estimate that remains unchanged.
“TV will not be alone in the losses. Other traditional media will also take a beating: outdoor, radio, newspapers and consumer magazines will collectively sink 7%.”