Ad Rates Falling as Families Stay Home
– By #RSA
Businesses across the country are feeling the effects of the COVID-19 Pandemic. Restaurants are changing their business models to curbside and carry-out, stores are changing their shopping policies to follow new guidelines, and others are closing or opening with restricted hours and access. Online ordering and shopping have seen an uptick in recent weeks as families and businesses alike try to find the "new normal."
With all of these changes, advertising agencies and platforms are seeing changes as well. As more people spend time online, we are seeing the costs of advertising online go down. The Wall Street Journal reports the cost to put an ad in front of 1,000 users on Facebook fell by 15-20% from February to March. YouTube saw a similar decline.