The ZenithOptimedia survey revealed that UK media spend has fallen by 8.7%, compared to 6.7% globally and the study blames poor corporate confidence and a lack of quadrennial events, such as sporting occasions and elections. However, the report revealed that demand for 'value' products and opportunities for advertisers that target people who stay at home.

The internet is the only medium to attract higher ad spend so far in 2009, thanks to its accountability and innovation. Zenith forecasts an 8.6% growth in the medium this year, which is still down from 20.9% last year.

Outdoor advertising is showing a downturn too, going from $31.39m in 2008 to $29.27m this year. However, an upturn is expected over the next two years.

A spokesperson for ZenithOptimedia said: "We are currently in the middle of a period of steep deterioration in ad expenditure. The downturn began in Q3 2008, accelerated in Q4 and Q1 2009 was at least as tough as the preceding quarter. Many are treating advertising as a discretionary expense and one they find convenient to cut."

Spike Hallissey, head of production at CBS Outdoor UK, said: "There has been a noticeable downturn in the number of people putting up posters. However, with the run up to the Olympics and our recent acquisition of the Underground contract, we are optimistic about next year.

"Print buyers cannot put off their marketing spend for too long and there is a lot of money being withheld right to the last minute, with contractors being played off against each other. We think that the money will come back in."

Most of CBS' national standard display work goes to Augustus Martin in Bromley-by-Bow in London.