According to a report on ad spending by media types released by Kantar Media ad spending by the US companies has grown by 5.1% in the first quarter of 2010 on previous year to touch $31.3 billion mark. The company studied 19 different media types for the financial health, only to find that 13 among them have shown a rise in the first quarter. The data is as follow:
Ad spending by category
- Overall growth: 10.5%
- Spot TV: 22% (Main advertisers coming from automotive, retail, financial services, and political categories)
- Network TV: Winter Olympics led to 11.6% growth in ad spending on network television.
- Cable: 8.2%
- TV (Spanish Language): 7.2%
- Syndication fell by 13.2%
- Overall growth: 7.4%
- National Spot Radio: 19% (Main advertisers coming from automotive, telecom, and financial services)
- Local Radio: 4.6%.
- Network Radio: 3%
- Overall growth: - 3.2%; Newspaper:-3.7%
- Consumer Magazine: fell by 3.9%
- B-to-B Magazine: fell by 8.4%
- Local Newspaper: slipped by 5.6%
- Sunday Magazine: spending grew by 13.7%
- National newspaper: 9.1% (thanks to growth in the Wall Street Journal)
Internet, Outdoor and FSIs
- Display Ads (Internet): 5%
- Outdoor: largely flat (drop by -0.4%)
- FSI: 12.8% growth
As the above data suggested print media is going down, and it touches new low in every successive quarters. But growth in the Sunday Magazine brings some relief for the print industry. It is high time for the print industry to rethink its status and reinvent itself should it not want to follow the footsteps of dinosaurs.