The latest data from Taylor Nelson Sofres’ CMR reveals that American adspend in 2002 made a robust recovery, with television spearheading overall full year growth of 4.2% – versus a 9.8% decline in 2001.
Total spend for the year to December 31 2002 rose to $117.3 billion (€106.45bn; £73.38bn) with broadcast advertising up by 8.4%.
Commented CMR’s Steven Fredericks: “This year's growth is a result of strong second half, reflecting the vibrant network upfront, the elections and holiday spending. Despite geopolitical and economic uncertainties, the marketplace outperformed our expectations for the year.”
TV showed growth in all categories, bar syndication which sagged 7.7%. Network TV adspend rose 7.4%; spot TV grew 14%; cable spending rose 2.9%; and Spanish-language television achieved orbital velocity with 20.4%.
Radio fared even better with double-digit increases across all categories: 15.7% up at the network level, 13.2% in national spot and 10.5% in local advertising
Print media, however, remained in the doldrums, up a marginal 1.6% with newspapers and magazines both lagging behind the general recovery trend.
Only two of the nation’s top ten advertisers (DaimlerChrysler and Altria Group, formerly Philip Morris) spent less in 2002. General Motors upped its spending 12.5% to remain in number one slot, with runner-up Procter & Gamble increasing spend by 22.2%.
Data sourced from: AdAge.com; additional content by WARC staff