2009 officially ad sectors worst year
According to official figures, 2009 was the advertising industry’s worst year.
Revenues for the sector fell 8% last year, to $12.57 billion: $1 billion was cut from budgets. Australia fared better than the US and Britain, which fell by 13% and 12.7% respectively. The previous ‘worst year’ for the sector in Australia was 2001 with a 6% drop.
It only confirms what we already knew, that 2009 was the blackest year for advertising revenue since I first compiled figures in 1960,” said Bernard Holt, CEO of the Commercial Economic Advisory Service of Australia.
The Age reported Steve Allen, a media analyst with Fusion Strategy, explaining the impacts on Australia:
It could have been worse but it could have been better… It didnt seem to matter that things were ticking along nicely here. They just said: Cut and they did.
The information comes after Harold Mitchell, chairman of Mitchell Communications Group – Australia’s largest media buyer, predicted a 5% rise for 2010.