Myers Reports Inc. released updated ad-spending projections Wednesday that
anticipate a speedier ad-spending recovery starting in 2003 and extending
In his daily electronic Jack Myers Report newsletter, CEO Jack Myers
-- while reiterating that the worsening economy and related ad-spending cuts
'will hurt the media business tremendously this year and next' -- forecast 'a
dramatic acceleration in corporate cost-cutting measures in the aftermath of
[the terrorist attacks of] Sept. 11 that ultimately will speed up the recovery
process, starting in 2003.'
Myers -- who estimated that total ad spending should decline by 6.6 percent
this year and by 7.4 percent next year -- anticipates a slight uptick of just
under 1 percent in 2003, followed by gains of 3 percent, 1.6 percent and 3
percent respectively in 2004, 2005 and 2006.
Consumer magazines and television should see a sustained recovery, Myers
said, singling out cable as likely 'the primary beneficiary of increased TV
advertising,' as broadcast's share continues to erode.
Myers repeated his earlier warning that further hostilities from both the
United States and terrorists probably will further disrupt the U.S. economy and
ad spending in 2002.