Total advertising revenue for media owners will shrink 7.2% for the year, before recovering +6.1% in 2021, according to the latest Magna forecast.
Forecast is better than worst predictions for global agency sector.
WPP CEO is making redundancies but says China has shown recovery 'can be quick'.
Digital spend will surpass traditional media for the first time in 2020, according to the agency's new forecast.
Muted Chinese and Southeast Asian markets see agency network revise 2020 forecasts downwards.
Creative communication has never had more impact, but the agencies traditionally responsible for creating the communication are struggling to stay relevant and profitable. Is this the beginning of the end? Grey's regional chief strategy officer doesn't think so.
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