SYDNEY: Australian television advertising revenues are contracting as the country's economic depression deepens. Latest figures from industry analysts Free TV indicate that the metropolitan TV ad market shrank 15% in the first half of 2008.

H1 revenues topped A$1.34 billion ($1.31bn; €823m; £653m), the same level as last year but 15.8% lower than the second half of 2007.

Channel Seven pulled ahead in the free-to-air TV league, grabbing 39.13% of all advertising across Australia's capital cities, but revenue was down A$86.3 million to A$524.6m.

Second spot was occupied by Channel Nine, reclaiming that place from Channel Ten.

Data sourced from Sydney Morning Herald; additional content by WARC staff