Ad spending down

Ad Age reports that ad spending in the first two quarters of 2008 was down sharply.

Total measured ad spending declined by 1.6% in the first half of 2008 compared with the same period in 2007, according to TNS Media Intelligence. The second quarter alone was down 3.7% over last year, marking the biggest quarterly drop since 2001.

The report deals with "measured" ad spending, which does not include in-store advertising and promotion (which is thought to be increasing) and trade promotion, which is probably remaining roughly proportionate to the small increases we are seeing in retail sales.

Broadcast TV was down 2.4%, although cable and syndicated TV were up slightly. Magazines were down 1.8%. Worst hit (not surprising) were newspapers at -7.4% and radio at -6.5%.

Apparently not enough people are reading this blog.