2009 Media revenue; bankruptcy and decline

In this Advertising Age article there is yet more doom and gloom to report. Revenues are down and over 10% of the “Media 100” out of business companies are looking at the second half of the year for better results.

So not only was last year’s Media 100 revenue growth the lowest since 1991, this year it’s on track to show the first decline since Ad Age began ranking top media firms in 1981.

Remarkably, 11 of last year’s Media 100 firms have plunged into bankruptcy reorganization, overwhelmed in most cases by shrinking revenue and debt loads taken on during the blind optimism of the boom.

via Media 100: U.S. Media Revenue Set for Historic 2009 Decline – Advertising Age – MediaWorks.