Media agency spend on television took a dive in February with new media agency data reporting a 5.8% reduction in spend, with the TV market down $15.6m, year-on-year, to $252.1m.
According to Standard Media Index, despite a significant fall in the biggest medium, the overall paid media market grew 2% – or $11.3m – compared with last year, to a record February spend of $582m.
Both Seven and Ten were winners in the TV revenue share contest, shaving market share from Nine with a 40.3% share (up 1.33% on last year) and 24.25% share (up 3.12%), respectively, compared with Nine which sat at 35.45% (down 4.45%).
While there was a significant drop in TV spend, it was the regional TV markets that were worst affected with an 11.3% drop in rural markets while metro TV fell 4.8%, YOY. Pay-TV was up 2.3%.
Outdoor and radio also rose significantly in February, recording a 23.8% and 14.6% lift (YOY) to $72.2m and $52.2m, respectively.
Advertising spending in the digital space grew 12% to $137.3m last month.
Magazines were the worst performing media in February, recording a massive 21.6% decline to $13.4m – while newspapers’ fall in print revenue was a more moderate 7% to $47.4m.
Cinema also took a hit last month, with a 3.5% decline and revenue of $5.3m.