NEW YORK: Advertising spend in the US rose 3.8% during the third quarter according to latest figures from TNS Media Intelligence. The market grew 4% in the first nine months to $108.5 billion (€81.6bn; £55.2bn).
The slowdown can be attributed partly to sluggish advertising among automakers, retailers and travel companies, prompted by a slowing GDP.
Auto companies have cut $1.2bn in adspend over the past twelve months, about one percent of total expenditures across all media. Ailing General Motors has slashed spending by 20%. In total, domestic auto was down more than 11% and nondomestic declined 2.7%.
The web continues to grow at the expense of newspapers and radio. For the first nine months, online display advertising grew 18% to $7.15bn. Its share of overall adspend rose to 6.6% (from 5.8% a year ago).
Television's share was up slightly to 43.5% from 43%. Network TV was up 3.8% to $47.1bn, while cable gained 3.3% to $12.1bn.
Data sourced from Adweek (USA); additional content by WARC staff