Radio leads the way as media agency spend slips back
Advertising spend went backwards in May, according to Standard Media Index’s tracking of media agency spending on behalf of clients.
According to SMI estimates, clients spent $623.9m on advertising in May, a slight dip of 0.3% on the same month last year.
Radio was the best performer with a growth of 11.1%, while digital was up by 6.5% and ad-supported TV streaming was up 3.4%.
The worst performer was magazines, which were down 29.8%, while newspapers were down 5.2% and broadcast television was down 2.5%.
However, the drop in newspapers is nowhere near as bad as previous months. SMI said the regional press market was up 6.7% while community press was up 7.6%. SMI MD Jane Ractliffe said: “All year we’ve been seeing positive signs emerging from the newspaper media.”
Ractliffe: Positive signs for newspapers
SMI said that for the first 11 months of the financial year just gone, ad spend had risen by 3.7% to a record $6.68bn. Although the financial year is now over, the release of the final SMI fugures generally lags by about a month.
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.
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SMI does not track direct advertising and on average 50% of radio adspend is direct. What is the point?
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How can magazines be down 30% every time this research has been announced since 2012, yet they still exist?
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Because it’s a bullshit metric that exclude direct advertisers (many media have up to 60% of their revenue come direct) and it excludes 1 of the big agency groups (MediaBrands) who bill heaps on radio and print.
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What metric do you suggest using instead then? As far as i’m aware SMI is still the most robust monthly dipstick
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Surely there is more than one company that tracks advertising expenditure?
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