By: E&P Staff
Advertising expenditures barely grew in 2007 up 0.2% to $148 billion compared to 2006 spending, according to TNS Media Intelligence. In Q4 advertising expenditures were virtually flat, falling 0.1%.
“The ad market remains stalled and is being engulfed by the spreading pessimism about general economic conditions,” Jon Swallen, senior vice president of research at TNS Media Intelligence, said in a statement. “Fourth quarter performance was indicative of this malaise and early figures from 2008 suggest the growth rate for measured ad spending has not appreciably changed.”
Spending at newspapers fell 5.6% to $26.3 billion in 2007. Advertising on Spot TV drooped 10.2% to $15.5 billion during 2007. Internet advertising soared 15.9% to $11.3 billion last year. Spending at local radio stations declined 2.7% to $7.1 billion for the same period.
Sunday magazines reported a yearly gain of 7.2% to $1.8 billion during 2007.