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2009 officially ad sectors worst year

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2009 officially ad sectors worst year

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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.

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