By: Jennifer Saba
In its latest edition, the Morton-Groves Newsletter anticipates increased — yet cautious — advertising spending for the months ahead.
January numbers were off by 1% from the previous year, at least with public companies. According to the report, local advertising spending for January was up 3% as opposed to last year’s 4% increase. But “February and March should bring better comparisons due to the 2003 ‘war dip’ that depressed advertising spending.” The two areas to watch that could throw a wrench in growth prospects are employment uncertainty and retail advertising.
For 2004, Miles Groves, one of the authors of the report, expects a 4.9% growth (a weighted average) for total newspaper advertising.