IF YOU ARE CHANGING YOUR LEVEL OF SPENDING, WHICH MEDIA ARE YOU SPENDING MORE ON, AND ON WHICH ARE YOU SPENDING LESS?
Print continues to take a spending hit, but there seems to be better times ahead for the broadcast media. In some cases, the percentage of respondents who said they would spend more or spend less was quite close. This appears to indicate that while clients may not cut spending, they will spend more selectively in a down economy.
This is particularly true of magazines—while one-third of respondents indicated they would spend more in the category, 31 percent said they would decrease spending on magazines. Network TV also reflected this division, with 29 percent saying they would spend more but 25 percent indicating they would spend less.
Faring the worst were newspapers and outdoor, the only media in which respondents predicting lower spending outnumbered those who said they plan to increase spending.
The media most positively affected appear to be cable and spot TV. Thirty-eight percent of respondents said they plan to increase spending in cable TV, vs. 20 percent who said they will spend less. For spot, 36 percent indicated they would increase spending, against 20 percent who expect to decrease their buys in that medium.
By category, automotive clients recorded some of the highest percentages among those saying they plan to spend more in network, spot and cable TV. But automotive was also significantly higher than the industry average among those indicating they will spend less in magazines. Reflecting the troubles in their sector, telecommunications clients recorded some of the highest percentages among those who plan to spend less in 2002: At least one-third of those clients projected lower spending in every medium.