Britain's TV ad market will remain weak for the foreseeable future, according to the head of media auditing firm Billetts.
John Billett, the company's chairman, warned that there "isn't going to be a renaissance in television buying as far as the eye can see." He cited a 5% fall in revenues for January to July 2003 at terrestrial network ITV, which controls over 50% of the country's television advertising.
However, this has benefited advertisers, as ITV airtime has fallen in price. "[Flagship channel] ITV1 was cheaper by more than 11% across the majority of audiences in the first seven months of the year," Billett continued, adding that the network's price premium for adults slipped to 20% from 25% a year earlier.
Data sourced from: BrandRepublic (UK); additional content by WARC staff