There are now green shoots of recovery in the US advertising market and new figures from CMR indicate that spending increased by 2.2% in the first nine months of 2002.
Spot television led the revival with growth of almost 15% while radio, local newspapers and network TV experienced single figure rises. Spanish language network television remains the fastest growing sector with spend up by more than 25% in the first three quarters of 2002. By contrast, business magazines and the internet are still struggling to attract advertising and have seen revenues fall by 17% and 18% respectively.
“Compared to the depressed levels of 2001, we have seen adspend rebound nicely,” said George Shababb, senior vice president of CMR/TNS Media Intelligence. “We estimate that ad spending for 2002 will reach the 2.5 percent growth we forecasted earlier in the year. This is due to additional ad dollars what were spent in November to support the final election push and the upcoming holiday season.”
Ad Spending By Media, Jan-Sep 2001 vs 2002 | |||
Medium | Jan-Sep 2001 ($m) | Jan-Sep 2002 ($m) | % Change |
Network TV | 13,425,450 | 14,374,020 | 7.1 |
Spot TV | 10,501,919 | 12,041,496 | 14.7 |
Cable TV | 7,757,505 | 7,682,009 | -1.0 |
Syndication – National | 2,405,629 | 2,122,063 | -11.8 |
Spanish Lang. TV | 1,131,538 | 1,420,568 | 25.5 |
Consumer Magazines | 11,926,801 | 11,759,225 | -1.4 |
Sunday Magazines | 815,571 | 896,871 | 10.0 |
B2B Magazines | 6,433,244 | 5,313,734 | -17.4 |
Local Newspapers | 13,375,315 | 14,387,876 | 7.6 |
National Newspapers | 2,183,016 | 2,111,574 | -3.3 |
Network Radio | 622,172 | 711,255 | 14.3 |
National Spot Radio | 1,613,492 | 1712164 (e) | 6.1 (e) |
Local Radio | 3,946,237 | 4,322,820 | 9.5 |
Internet | 4,589,601 | 3,755,546 | -18.2 |
Outdoor | 1,856,242 | 1785488 (e) | -3.8 (e) |
(e) = Estimate | |||
Source: CMR/TMS Media Intelligence, November 2002 |