It’s not just radio. A research firm this week said media advertising is in a slump nationwide.
TNS Media Intelligence said U.S. advertising expenditures fell 0.3% in the first half of the year to $72.59 billion compared to the same period in 2006.
“For the first time since 2001, media advertising expenditures have declined for two consecutive quarters,” stated President/CEO Steven Fredericks, president and CEO of TNS Media Intelligence.
“While the protracted downturn in automotive spending has been a prime contributor, the overall results reflect weakness across a wide range of industries and advertisers. Given the uncertainties about near-term economic growth and consumer spending, we expect core ad spending will continue to face challenges during the second half of the year.”