It was a November to remember as the U.S. ad economy turned in its best month so far this year, increasing 11.5% over the same month in 2019. November was the fourth consecutive month of growth in the U.S. ad economy, which was crippled in March with the onset of the pandemic and continued to recede through July before the rebound began in August.
This according to data, from the U.S. Ad Market Tracker, a collaboration of MediaPost and Standard Media Index based on total ad spending by the major agency holding companies.
The growth affirms projections by major industry analysts who predicted a third and fourth quarter turnaround from what’s been called one of the greatest ad recessions in modern history, as the country dealt with the financial effects of the COVID-19 pandemic.
“The data, however, reveals that the advertising rebound is not even, and may in fact, be a "K-shaped" one in economist parlance,” an article in MediaPost said.
According to the U.S. Ad Market Tracker, the top 10 ad categories grew 23.3% in November, however all other ad categories continued to erode, down 3.2% in aggregate.
The digital ad marketplace increased by 29.3% in November, while national TV has stabilized, rising 0.4%.
The Ad Market Tracker indexes the movement of U.S. ad market volume on a month-to-month basis. Data represented in the index is derived from actual spending by ad agencies representing approximately 70% of all U.S. agency spend.