Advertising revenue dives but worst over
ADVERTISING industry revenues fell 8.5 per cent to $6.1billion across all media in the June half, the biggest decline in the 50 years that research firm CEASA has been collecting the data.
According to the Managing Director of CEASA (Commercial Economic Advisory Service of Australia), which been collating advertising revenue data since 1960, Bernie Holt said that the media companies have hit the bottom and revenues are on the way back up.
“On past experience media is very resilient and comes back very quickly. I don’t think it will come back to big figures. We’ll be plus-something (in the December half),” Mr Holt said.
The worst presentation, down 20.9 per cent to $911million compared with the same period last year according to the Metropolitan newspaper revenue. Suburban newspaper revenues were down 17 per cent, regional daily papers fell 14 per cent and non-dailies were down by 9.6 per cent.
News Limited (which owns The Australian) director Tony Kendall said that classified advertising revenues accounted for most of the fall, and display advertising was stronger than for most other media. “If you strip out classifieds, display is down about 3 per cent.” he added.
From all types of newspaper in the six months to June the classified advertising revenues plummeted 38 percent from $867m to $536m.
“The classified advertising falls represented a drop in the total volume of house, car and job ads, rather than a structural shift of classified advertising to online.” Mr Kendall said.
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