Consumer spending in the United States fell by 0.7% in June – the largest drop since September 2001, according to figures published by the Commerce Department. As reported in today’s Financial Times, US government statisticians have estimated that the economy grew slower than expected, up only 3% during the second quarter, owing to a 1%… Continue reading US Spending In June Matches Decline Of 2001

Ed Meyer, chairman and chief executive of Grey Global, could be in a for a $34 million cash payout if he succeeds in selling the advertising group for $1.3 billion. According to a report in The Times today, Meyer, 76, who has been Grey’s chief executive since 1970 is also thought to be entitled to… Continue reading Meyer Set For $34 Million Payout After Sale Of Grey

French advertising giant, Havas, has today posted only a small increase in organic revenue for the second quarter of 2004, despite improved conditions in the UK and European markets. Group revenues which were up by only 0.6% to â‚Ź393 million, after currency rate adjustments for the period March to June 2004, were dogged as expected… Continue reading Havas Revenues Held Back By Poor Growth In United States

Clear Channel-owned Taxi Media is launching an innovative new data capture product that will allow advertisers to create a highly targeted list of potential customers.The new initiative will allow clients using the company’s tip-seat advertising format to choose ones with special slots for taxi passengers to deposit their business cards. At the end of the… Continue reading Data Collection On The Cards For Taxi Advertising

Consumers now spend more money on media than advertisers, signaling a fundamental shift in the economics of the media industry, says a US based media merchant bank. The shift, which occurred during 2003, is now just coming to light says Veronis Suhler Stevenson and reflects that advertising is no longer the primary business model for… Continue reading Consumers Overtake Advertisers In Media Spending

By 2008, over 10% of all US broadband subscribers will be receiving voice calls over high-speed internet connections, driven by lower costs and technological advances in this market, says a new report from In-Stat/MDR. As broadband companies continue to add thousands of new lines each month, the US broadband IP telephony market looks set to… Continue reading Voice Calls Over Broadband Set For Growth

Sir Martin Sorrell has said that the challenges faced by newspaper and magazine publishers ‘is getting greater and greater’ as internet advertising continues to grow and accelerate. Speaking to the Independent Review, the chief executive of the world’s second largest advertising and marketing services group WPP said, he is intrigued by the forecasts about interactive… Continue reading WPP’s Sorrell Warns Of Internet Pressure On Papers And Magazines

ITV chairman, Sir Peter Burt, has once again reaffirmed his commitment to the broadcaster’s embattled chief executive, Charles Allen, telling shareholders and staff that replacing the broadcast boss does not feature on his to-do list. Burt has also quashed rumours that former BBC chief executive, Greg Dyke, is being groomed as Allen’s replacement. Speaking to… Continue reading Burt Underlines Commitment To Allen As Chief Executive

Channel 4 is believed to be considering plans to launch a national, speech-based, digital radio station sometime next year to compete directly with BBC Radio Four. The initiative is the brainchild of Channel 4’s recently appointed chairman, Luke Johnson, who is looking at ways to diversify the broadcaster’s revenue in the face of increasing competition… Continue reading Channel 4 Plans To Launch National Talk Radio Station

Viacom Outdoor has secured computer manufacturer Hewlett Packard to launch a three month branding campaign at Bank Tube station in central London.The campaign, which was booked through Viacom Outdoor’s Impact team, features a creative spanning the 80 metre-long Bank trav-o-lator, which connects the Central Line to the Waterloo & City Line at one of London’s… Continue reading Viacom Secures Hewlett Packard For Bank Campaign