On October 22, 2009
Media’s Advertising Rebound: Real Growth or Just Climbing Out of a Hole?
Some analysts are reversing their downbeat media forecasts from earlier in the year on the likelihood that 2010 advertising revenues and earnings will surprise on the upside. But it is a little too early to break out the champagne. New ad campaigns from beleaguered auto manufacturers such as General Motors and Toyota, and optimistic comments by media companies such as CBS are among the factors that prompted Morgan Stanley this week to double its 2010 growth projection for overall U.S. media advertising to 4.2 percent — above Wall Street consensus. Growth estimates for most media sectors have been raised an average of three to five percent, although individual company performance is expected to vary widely. A deeper look at the…
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