Total advertising spending in Italy is set to shrink at a double-digit rate this year because of the coronavirus crisis and nationwide lockdown imposed in March, research agency Nielsen said on Monday.
Italian advertising fell 9.2% in the first quarter compared with the same period last year, with March showing a 29% decline, in line with the French and Spanish markets, Nielsen data showed.
Nielsen expects investment in advertising campaigns in Italy to stabilise in the second half of 2020 in a U-shaped recovery, with restrictions on movement and business activity being eased gradually from May 4.
The expected double-digit drop this year is projected at less than 20%, Alberto Dal Sasso, an executive at Nielsen said at a video streaming event. Last year Italy’s advertising market declined by 0.9% to 8.78 billion euros .