Marketers have cut their TV advertising budgets at a quicker rate than those for influencer marketing in the face of the novel coronavirus (COVID-19) outbreak. This is according to research from the World Federation of Advertisers (WFA) into global brands responsible for around $50bn in media spend.
TV budgets for the first half of 2020 have dropped by one-third (33%) compared to a one-fifth (22%) reduction for influencers. Online display and online video report softer cuts, by 14% and 7% respectively, having fallen into decline for the first time in April.
Events/experiential (-56%), outdoor (-49%) and...