Industry Credit Outlook: Action Sequence Slows As U.S. Media & Entertainment Industry Wrestles Economic And Secular Pressure May 08
Standard & Poors, May 2008
Abstract
Standard & Poor's Ratings Services' outlook for the U.S. media and entertainment industry calls for a minimal boost in ad spending, largely because of the elections and Olympics, and to continued brisk Internet demand. These are the few bright spots as the U.S. economy has slowed to a crawl. Decelerating GDP growth, restrained by a weak housing market, spiking fuel costs, creeping food prices, and rising unemployment, is an ominous indicator for ad spending. Internet ad spending, when we include search advertising, sped past magazine advertising in 2006 and, we expect, will leave radio advertising behind in 2008. Our overall ad spending forecast now calls for only 1.7% growth in 2008, on the heels of essentially flat 2007 spending (negative...
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Research Type: Commentary
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- R.R. Donnelley & Sons Co.
- Gannett Co. Inc.
- Sony Corp.
- Tribune Co.
- Omnicom Group Inc.
- American Color Graphics Inc.
- WPP 2008 Ltd.
- Young Broadcasting Inc.
- The New York Times Co.
- World Color Press Inc.
- Gray Television Inc.
- Clear Channel Communications Inc.
- The McClatchy Co.
- Radio One Inc.
- Journal Register Co.
- Nexstar Broadcasting Group Inc.
- Merrill Corp.
- Interpublic Group of Cos. Inc.
- Bertelsmann SE & Co. KGaA
- Transcontinental Inc
- NextMedia Operating Inc.
- Bowne & Co. Inc.
- Morris Publishing Group LLC
- Warner Music Group Corp.
- Publicis Groupe S.A.
- Bonten Media Group Inc.
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