2001 was ‘one of the most capricious years in decades’ for the media and advertising industries, according to a new report from the Billetts, with UK TV prices ending up at their cheapest since 1994.
This appraisal of the year comes from Billetts’
Media Forecasts 2002 report, which predicts that there will be a slow start to the following year, with the decline beginning to plateau during Q2 and a return to positive growth around September time.
The slow start to 2002 is largely a result of a cautiousness on the part of advertisers, many of which are yet to finalise budgets for the coming year.
Billetts says that advertisers reacted quickly to the economic downturn. In November 2000 its customers intended to increase budgets by 4% in 2001, but by August they were spending 6% less.
More detailed forecasts from the Billetts report to follow on MediaTel Insight.
