Media Ad Spending Revised To $109 Billion

By: Ann M. Mack (Mediaweek) Special from Adweek

Internet ad spending is expected to rise 5.3% this year, according to mid-year estimates from CMR.

The New York-based company that tracks ad spending in major media revised its projections for 2002, estimating that overall ad spending for the year would increase 2.5% to $109.1 billion.

"We are off to a good start this year, which suggests a rebound over last year," said David Peeler, president and CEO of CMR.

The media categories ranking above the Internet, in terms of projected ad spending growth, included Spanish-language TV (10.4%), spot TV (8.9%), radio (6.7%) and local newspapers (5.7%). Network TV is expected to see a 4.5% growth in ad spending, while B2B magazines are due to take the biggest hit with a projected 11.4% decline.

CMR also predicts that overall ad spending will rise 6.2% in the latter half of 2002, as opposed to an estimated 0.4% decline in the first half. Peeler attributed increased spending to the impact of the upfront on the broadcast season, upcoming elections in November and the continued growth of Spanish-language television.