Pharmaguy's Predictions for 2014

Last year at this time I made "Some Interesting Pharma Predictions for 2013". How well did I do? Well, although there is still one day left in 2013, let's review a couple of last year's predictions and then see what's in my crystal ball for 2014.What I predicted for 2013: "Direct-to-Consumer (DTC) Spending Will Continue to Decline" I based this on the general economy, which I thought would still be in bad shape and thus continue to have a "negative impact on DTC advertising causing a slow death by a thousand cuts."Early data for the first half of 2013 as reported by Pharmalot, however, suggests that DTC spending rose by 1.2% in the first half of 2013. The total spend during that period was $1.82 billion. DTC spending on television rose nearly 3.8 percent, to $1.1 billion (61% of the total) during that period. Internet advertising -- excluding search -- rose 4 percent to $113.6 million (6% of the total). Magazine spending was flat, while DTC spending in newspapers, billboards and radio all plunged – 27 percent, 39 percent and 48 percent, respectively.Assuming the 1.2% increase holds up for the entire year's spending, the total would be $3.51 billion (see chart below; click on chart for an enlarged view). One caveat: We may be comparing Nielsen data "oranges" (orange bars) to Kantar Media "apples" (last red bar) because the two companies use different methodologies to estimate ad spending. Consequently, the j...
Source: Pharma Marketing Blog - Category: Pharma Commentators Tags: DTC Advertising FDA Guidance social media Source Type: blogs