Wednesday, July 29, 2020

Advertising revenue is down 90% in Lebanon

At the beginning of the year, trusted media and advertising personality Naji Boulos forecasted that the 2020 expenditure in Lebanon was going to be 100 million Dollars or 25 Dollars roughly per person. How wrong he was.... In a private chat with him he estimated the figure will be around 20 million by the end of the year. COVID, lockdown, inflation, devaluation, capital controls, all played a part - add to that the digital migration of advertising (seriously, why would anyone use OOH anymore? I explained that here). Agencies estimate that the revenue is down 90% now that we passed mid-year. Numbers are unlikely to get better or increase with the impeding factors here to stay.