TNS: First Quarter Radio Ad Revs Off Again
June 12, 2008 at 5:31 AM (PT)
First quarter overall ad spending rose slightly by 0.6% in first quarter 2008, but radio dropped 4.5% as a 12% rise in network radio (assisted by an extra week of income this year) was offset by a 3.1% decline in national spot radio and a 7.2% drop in local radio.
Television rose 1.7%, magazines saw a 0.8% increase, the Internet was up 8.5%, and outdoor rose 2.5%, while newspapers fell 5.2%. PROCTER AND GAMBLE, increasing 15.8%, remained the top advertiser, followed by GM and VERIZON, with AT&T dropping from second to fourth. Among ad categories, financial services led the list again, with local services and amusements swapping places with telecommunications to finish second for the quarter.
"Enduring concerns about economic conditions and consumer spending behavior continued to cast a pall over the advertising market during the first quarter,” said TNS SVP Research JON SWALLEN. "After a hopeful start to the year, the pace of ad spending slowed perceptibly during MARCH and early figures from the second quarter indicate little immediate or sustained improvement in the core ad economy."