WHAT YOU NEED TO KNOW DUE TO COVID-19
- Overall ad spending is declining rapidly, and the two largest players Google and Facebook are seeing the largest impact.
- Cowen & Co. analysts estimate that Google’s total net revenue is now projected to be about $127.5 billion, down $28.6 billion (-18%)
- Cowen & Co. analysts estimate that Facebook’s ad revenue is around $67.8 billion, a drop of $15.7 billion (-19%)
- Facebook execs disclosed that the company has “seen a weakening in our ads business in countries taking aggressive actions to reduce the spread of COVID-19.”
- Digital Advertising is feeling the impact before other media outlets.
- “Digital platforms are feeling the pain soonest, given the relative ease of pulling ad spend versus mediums such as television,” says LightShed analyst Rich Greenfield
- Twitter, Snapchat & Amazon expected to see an ad decline from original year-over-year projections
- Snapchat | -30% over original forecast
- Twitter | -18% over original forecast
- Snapchat | -11% over original forecast
SCOOTER NOTE: As shifts & declines in ad spend seem apparent for the near future, you will want to stay current on the latest news. Adjust your campaign strategy weekly depending on Cost Per Click (CPC) & Cost Per Acquisition (CPA), website traffic and conversions.