Competitive Media Reporting (CMR), a provider of strategic advertising and marketing communication information, announced this week that first quarter advertising spending for all media was down 5.2%
for 2001, compared to first quarter revenues in 2000.
Total ad spending dipped from $23.8 billion in 2000, to $22.6 billion this year. Top advertisers included General Motors, spending $516.1
million, down 23.7% from last year, AOL Time Warner with $382.7 million, up 29% from last year, and DaimlerChrysler, spending $376.0 million, down 1.7% from the same period last year.
”With the
economic challenges facing businesses and industries since late last year, this significant decrease in ad spending has not caught anyone by surprise,” said David Peeler, president and CEO of CMR.
“The advertising industry often strongly reflects what is happening in a majority of sectors. With Corporate America being required to make cuts across the board, it is logical to see a downturn in
these numbers as well.”
Despite this overall decline in numbers, cable TV and syndication both showed a healthy increase in revenues this quarter, up 6.6% and 5.5%, respectively. National
newspapers, however, took a cut with spending down 18.4%, and national spot radio ad spending was down 24.1%.