UK Media Advertising Revenue in the Global Financial Crisis

Looking at forecast advertising revenues for the UK media next year: the Guardian has startling figures:

Advertising revenues forecast to be down 21% next year in print industry.
TV ad spending forecast to be down 10% next year, with ad spending on TV between 2007 and 2010 estimated to be down 19%.
Total UK ad-spending down by 12% next year, with growth not predicted until 2011.
Digital media revenue growth will slow to only 2.1% next year, it is also estimated.
Internet display advertising is estimated to shrink by 5.5% next year.

This comes from a report by Enders Analysis. The full report can be found here.

Ouch. Not sure what else can be said about those figures. With even digital media slowing down considerably - there was a 20% growth in this sector of the industry in 2008 - the global financial crisis will hit UK media very hard. Let's hope it can emerge in tact, if not changed for the better. If digital media is going to continue growing, and with luck it will, then outlets will be forced to focus more on this area and develop it properly if they aren't doing so already.

This could, in the long run, be a positive thing for the media. But that doesn't mean the next few years will be easy or simple for the industry.