Fueled by the Winter Olympics, total advertising expenditures increased 5.7% in the first quarter of 2014 to $34.9 billion, according to recent data from Kantar Media.
According to Jon Swallen, chief research officer at Kantar Media North America, without the Olympics’ contribution, the growth rate for remaining expenditures was just under 4%.
Every measured type of television had expenditure increases in Q1. Network TV increased 14.5%; cable TV expenditures increased 6.2% in Q1; Spanish language TV rose 18.0% and syndication TV spending was up 3.2%. Internet display expenditures grew 13.0% in Q1 as financial, retail and insurance marketers raised their budgets. Outdoor media registered a 2.8% increase.
Consumer magazine print expenditures fell 2.0% and the key metric of ad pages declined more than 5%. The bottom line totals were skewed by severe reductions from the two largest magazine advertisers, Procter & Gamble and L’Oréal, which account for more than 10% of total spending, according to Kantar Media.
P&G secured the top-ranked position for Q1 with $773.8 million of ad spending, down 2.6% from the prior year. Increased support for personal care and paper product brands was more than offset by reductions within its cosmetics and hair care brand portfolios.
L’Oréal finished in the top 10 too, at No. 7. Like P&G, the beauty company’s spending was also down 14.9%, according to Kantar Media.
More info: www.KantarMedia.US