In Depth
Media Spending Revision: TV Down
Overall spending on media and communications will fall .4% in 2009, according to private equity firm Veronis Suhler Stevenson, revising downward an earlier estimate.
The new projection was generated in response to the economic downturn.
The revised forecast is down from a previous estimate of 5.4% growth for the year, and follows an increase of 2.3% in 2008. The figure for 2009 represents the lowest industry growth rate, and only the second decline, in the three decades that Veronis has been collecting data, the company reported.
The hardest-hit media segments, according to the new forecast, are newspaper publishing, projected to decline by 16% (following a 13.5% decline in 2008), and broadcast television, forecast to be off by 9% (following a decline of 0.5%).
Consumer magazine publishing, projected to decrease 8.5%, and broadcast and satellite radio, down 7.2%, are also among the segments facing the steepest declines.
Advertising spending is projected to fall off by 7.4% in 2009, Veronis reported.
(Editor: Baumann)
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Nixon
I knew Dennis Liff when he was in college. His gf Cathy, his fights with Randy, his Dylan collection, his good grades in business but total lack of interest in putting on a suit and headin' for LA in 77.