American Business Media: BtoB Ad Spending Shows Strength
Press release from the issuing company
NEW YORK --Feb. 19, 2003--Business-to-business print advertising is experiencing a long-awaited turnaround. Figures released today by American Business Media indicate that although 2002 was a tough year, it ended on a promising note. Ad dollars were up 3.1% compared to December 2001, while pages were down 2.2%. Total 2002 spending, at $7.23 billion, was down 13.9% from 2001. Ad pages were down 15% for the year.
"If the United States avoids war, we are predicting a 3% growth in ad revenues in the first quarter of 2003, and the December numbers support that projection," said Gordon Hughes, President & CEO of American Business Media. "If war occurs, we project a delay in increased b-to-b activity until the second half of 2003."
Eight of the 12 categories showed improvement in ad spending in December compared to the same period the year before. The Travel sector led the way, with a 37.4% jump in ad dollars, followed by Drugs & Toiletries, which were up 29.8%. Computers, in a show of strength not seen in years, rose 20.5%. Automotive was up 17.7%; Horticulture & Farming up 16.9%; Home & Building up 8.9%; Software up 1.9%; and Services, Direct Response & Classified up 1%. The remaining categories were down: Telecommunications by 23.4%; Manufacturing & Electrical Equipment, Materials & Components by 13.4%; Finance, Business & Advertising by 11.7%; and Retail by 5.4%.
Leading the field in ad pages in December was the Travel category, up 25%. Drugs & Toiletries were up 22.5%; Computers up 11.5%; Automotive up 4.7%; and Home & Building up 2.6%. Telecommunications continued to be the hardest-hit, with a 29.9% decline. Manufacturing fell by 26.3%; Finance, Business & Advertising by 14.8%. Retail was down 10.8%; Software down 9.3%; Services, Direct Response & Classified down 8.2%; and Horticulture & Farming down 2.8%.
The Business Information Network (BIN), which tracks b-to-b print ad spending and pages, is a joint venture between American Business Media and CMR. Founded in 1906, American Business Media is the industry association for b-to-b information providers. Its member companies reach an audience of more than 90 million professionals and represent over 2,500 print and online titles.
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