Summary: Ad spending is on the mend following two years of falling revenues, according to a press release from SNL Kagan. The research firm cites spending in all categories — with the exceptions of direct mail and newspapers — is growing; tracking indicates that at the current rate, 2010 will see a 2.8 percent increase for total ad spending.
Despite warnings that the United States’ economic woes aren’t over — including predictions of a double-dip recession (when gross domestic product growth recovers successively for a short before declining again) — advertisers are promoting their products and services tenuously. It’s a welcome change. Revenues will eclipse $210 billion in 2010 after dropping 5.5 percent in 2008 and 15.6 percent in 2009. Automakers and related businesses have returned, and heated gubernatorial and mayoral races promise to fuel a busy fourth quarter for TV, radio, and cable providers.