Credit crisis: Ad spending down 3.7%
US advertising spending fell 3.7% in the second quarter from a year earlier, the biggest decline since 2001, as automakers and phone companies cut marketing budgets as the economy struggled.
By Agencies |
US advertising spending fell 3.7% in the second quarter from a year earlier, the biggest decline since 2001, as automakers and phone companies cut marketing budgets as the economy struggled.
Spending in the first six months of 2008 dropped 1.6%, including a 0.6% gain in Q1, New York-based market researcher TNS Media Intelligence said. Advertising slowed on every medium in the second quarter compared with the first, TNS said.
Consumer spending in the third quarter will probably be the weakest since 1991, according to economists surveyed this month. In response, advertisers are shifting marketing dollars to the Internet, cable television and syndicated TV to target more specific audiences, Jon Swallen, senior vice president of research at TNS, said in the statement.
Spending rose 8 percent on Internet display ads and 3.1 percent on cable in the first half, while newspaper and radio continued to decline. Ads on network TV fell 2.4 percent. National newspapers declined 9.5 percent, while local newspapers dropped 7.1 percent.
Spending in the first six months of 2008 dropped 1.6%, including a 0.6% gain in Q1, New York-based market researcher TNS Media Intelligence said. Advertising slowed on every medium in the second quarter compared with the first, TNS said.
Consumer spending in the third quarter will probably be the weakest since 1991, according to economists surveyed this month. In response, advertisers are shifting marketing dollars to the Internet, cable television and syndicated TV to target more specific audiences, Jon Swallen, senior vice president of research at TNS, said in the statement.
Spending rose 8 percent on Internet display ads and 3.1 percent on cable in the first half, while newspaper and radio continued to decline. Ads on network TV fell 2.4 percent. National newspapers declined 9.5 percent, while local newspapers dropped 7.1 percent.
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