By: E&P Staff Dow Jones & Co. reported an increase in April advertising gains Tuesday. However, the company is still taking a beating from the technology sector.
For the U.S. edition of The Wall Street Journal, total ad volume grew 7.5% in April. General advertising grew 14.5% due to strength in travel, auto, insurance, professional services and heath care categories. In the technology category, advertising dropped 30.6%. Financial advertising grew 29.7% and classifieds/other lineage increased 13.7%.
A report released by Merill Lynch today predicts that the Journal is off to a soft start in May. The slip in the technology sector was expected (after posting a 9.6% gain in March) "as some advertisers have shifted their campaigns to the second half; nonetheless, the decline was larger than we had expected," the report said.
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