By 2010, traditional TV advertising will be only one-third as effective as it was in 1990, according to a new study from McKinsey & Co. The report for the consultant's Fortune 100 clients based its conclusion on a 37% drop in message impact; 23% fewer ads being seen; a 15% decline in buying power, due to cost-per-thousand rate hikes; and a 9% drop in ad focus because more viewers are multitasking.

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