US business-to-business (B2B) advertising spend decreased by 9% in October, whilst advertising page volumes decreased by 10.6%, according to the latest figures from American Business Media (ABM).
“In spite of continued weakness in the telecommunications sector, the rate of decline in year-to-date ad spending and pages is still moving in the right direction,” says Gordon Hughes, CEO of ABM. “As of September, spending was down 17.4%. The October data shows spending down by 16.7%. We remain cautiously optimistic that this trend will continue in the remainder of the fourth quarter.”
US Business To Business Adspend By Sector, October 2002 | ||||
October | Year To October | |||
Revenue ($ million) | Year On Year Change | Revenue ($ million) | Year On Year Change | |
Finance, Business & Advertising | 121,744 | -17.5% | 1,055,440 | -24.6% |
Telecommunications | 16,297 | -40.3% | 159,827 | -44.8% |
Computers | 46,080 | -18.8% | 418,555 | -22.4% |
Software | 58,287 | -19.3% | 564,503 | -20.1% |
Manufacturing & Elec. Equip.,Mat’s & Components | 58,209 | -6.8% | 513,930 | -19.9% |
Drugs & Toiletries/PERQ | 79,732 | 10.8% | 745,100 | 2.0% |
Horticulture & Farming | 11,544 | 1.2% | 125,969 | -21.8% |
Services, Direct Response, Classified | 120,271 | -6.9% | 1,036,337 | -17.0% |
Retail | 48,242 | -5.4% | 397,007 | -9.1% |
Home & Building | 50,531 | 4.2% | 426,914 | -3.2% |
Automotive | 27,858 | -8.8% | 228,033 | -6.3% |
Travel | 40,816 | 9.0% | 323,426 | -10.5% |
Total | 679,610 | -9.0% | 5,995,040 | -16.7% |
Source: American Business Media, December 2002 |