Ad Recession Hits Previously Strong Italian Market
April figures from Italy confirm that the advertising recession has now reached the only remaining European market to have been showing growth.
An analysis by ABN Amro shows that growth in April was just 1.7%, compared to 6.0% in the first quarter. Techonology and telecommunications adspend halved in the month, mirroring the experiences of the US.
ABN says that this is worrying as April did not suffer from a particularly demanding comparable with the year before.
The broker is downgrading its full-year forecasts for the Italian market from 7.6% to 6.1%.
| Growth by medium – Italy | |||
| Apr-01 | Q1 2001 | YTD 2001 | |
| TV | 1.7 | 3.9 | 3.4 |
| Radio | -8.6 | -4.2 | -5.5 |
| Magazines | 13.7 | 12.2 | 12.7 |
| Newspapers | -10.3 | 10.0 | 4.1 |
| Outdoor | 9.5 | 21.3 | 17.8 |
| Cinema | 16.9 | 9.2 | 10.9 |
| TOTAL | 1.7 | 6.0 | 4.8 |
| Source: ACNielsen, ABN Amro estimates |
| Changes to estimates – Italy | |||
| Previous 2001F | New 2001F | Point Change | |
| TV | 5.0 | 4.5 | -0.5 |
| Radio | 10.0 | 6.0 | -4.0 |
| Magazines | 13.0 | 8.9 | -4.1 |
| Newspapers | 8.0 | 8.4 | 0.4 |
| Cinema | 8.0 | 4.1 | -3.9 |
| Outdoor | 12.0 | 8.3 | -3.7 |
| TOTAL | 7.6 | 6.1 | -1.6 |
| Source: ABN Amro estimates |
