The Dutch advertising market showed further deterioration in the second quarter, with display advertising down by 5.3% year on year, according to analysis by ABN Amro. This follows a 4.6% increase in Q1 2001.
Radio and television performed particularly poorly, down by 6.7% and 7.6% respectively. It is mainly the telecoms advertisers that are currently cutting their spend, although consumer electronics and chemical companies adspend also fell substantially in the first half.
ABN notes that European broadcaster, RTL, in which Pearson holds a 22% stake, has a high exposure to the Dutch display advertising market. The broker has a Reduce stance on RTL.
| Dutch display advertising growth H1 2001 |
| |
|
|
|
| By medium |
% |
By advertiser |
% |
| |
|
|
|
| Daily newspapers |
-4.3 |
Government |
23.6 |
| Free sheets |
-8.5 |
Financial services |
8.1 |
| Consumer magazines |
-0.9 |
Retail |
5.9 |
| Television |
-7.6 |
Media |
-7.8 |
| Radio |
-6.7 |
Food |
-9.7 |
| Outdoor |
2.0 |
Telecom/ICT |
-27.4 |
| Cinema |
-4.3 |
Consumer electronics |
-38.9 |
| Total |
-5.0 |
Petro/chemical |
-54.4 |
| |
|
|
|
| Source: BBC/HMI, ABN Amro estimates |
|
|
|
