Annual Daily Newspaper Ad Revenues Fall for the First Time in a Decade
Press release from the issuing company
NEW YORK, Jan 27, 2003 Corzen an online provider of market data for the media industry, today released its final estimate for US media spending in 2002, showing newspaper advertising revenues declined for the first time since 1991. The overall decrease of 0.6 percent in 2002 versus 2001 is attributable to the severe fall-off in recruitment classified advertising.
"Total advertising spending grew by 4.0 percent in 2002; advertising in newspapers, however, fell for the first time since the early 1990s," said Kip Cassino, Corzen's Vice President of Research. "The real question is how much classified revenue will come back as the economy rebounds, particularly in the Recruitment category."
The Year-End 2002 estimates released today are available through Corzen's Advertising Indicators Service. The Advertising Indicators show media market share for all media segments in more than 300 local metro markets.
Other advertising categories grew in 2002, most notably online advertising, which grew a robust 46.7 percent Advertising in radio was up 8.2 percent; cable-TV was up by 5.9 percent; and broadcast TV grew by 5.2 percent.
"The growth in online advertising for the year was fueled primarily by local newspapers upselling print advertisers onto the web," said Cassino.
A complete statistical summary of the 2002 vs. 2001 estimates are available from Corzen at http://www.corzen.com.
Corzen ( http://www.corzen.com) makes it simple for clients to track external market conditions that affect important categories of revenue and expenses. The company focuses on marketplaces that are undergoing fundamental changes and lack a source of relevant, timely information about market conditions. Corzen is based in New York City.
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