The cancellation of almost all in-person entertainment events due to the pandemic has also cancelled the digital ad budgets for those events, according to eMarketer.
Think about it.
Amusement parks. Closed.
Concerts. Postponed.
Movie theaters. Shuttered.
With the exception of professional sports, which has managed to hold audience-less live games, there are practically no entertainment events demanding digital ad budgets for promotion.
Entertainment spending on digital advertising dropped to $7.03 billion this year, from $7.55 billion last year.
Perhaps optimistically, eMarketer expects digital ad spending to rebound robustly for the entertainment industry in 2021 with $8.48 billion in spend.
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