Analysts paint grim picture for ad spend

11/13/2008 | Hollywood Reporter, The

A new report from Citi Investment Research projects U.S. ad spending will be off 1.8% in 2008 and 3.6% next year, and won't improve until 2010. In related news, UBS analyst Michael Morris is projecting Disney's ad-driven broadcast unit will see a sales dip from 5% to 15% next year and that its cable networks' sales loss could range from 1% to 7%; News Corp's broadcast TV division could see a fiscal year 2009 dip of 15% to 24%, but its cable unit should fare better, with anywhere from a 2% to 11% gain, per the UBS analyst.

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