Mark your calendar for Mediaweek, October 29-30 in New York City. We’ll unpack the biggest shifts shaping the future of media—from tv to retail media to tech—and how marketers can prep to stay ahead. Register with early-bird rates before sale ends!
NEW YORK Spending on measured media fell 4.1 percent in 2008, as a pallid economy and crumbling consumer confidence led to double-digit decreases in newspaper and radio ad sales revenues.
According to a new study from TNS Media Intelligence, media expenditures fell $6 billion year-over-year, to $141.7 billion. In keeping with last fall’s economic collapse, fourth-quarter declines were precipitous, with overall spending falling 9.2 percent versus the prior-year period.
“The ad market . . . was buffeted by a souring economy, deteriorating consumer confidence and weakening corporate balance sheets,” said Jon Swallen, svp, research at TNS.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in