Study: Marketers' Budgets Likely To Plunge Further

MediaPost Publications, August 22, 2008 — A new survey finds that 53% of major marketers expect their ad budgets will be reduced within the next six months because of the spiraling economy. And 87% say they have already made cutbacks in their marketing and ad plans.

The poll, fielded by the Association of National Advertisers, also finds that while the majority of marketers (53%) expect additional cuts to be modest--ranging from 1% to 10%--27% expect cutbacks to be more substantial, in the 11% to 20% range. A smaller group--about 10% of the respondents--are expecting that their budgets will be gutted, with decreases of 30% or more.