ITV’s advertising revenue for January 2002 is expected to plunge by between 12 and 15 per cent compared with the same month this year, according to industry experts.
This is a setback compared to December’s figures, which, at about £125m, show ITV’s ad revenue to be down only eight per cent on last December. The market expected a fall of as much as 30 per cent for the month, but a sudden flood of money into the TV market, mainly from music and telecoms companies, boosted ITV’s performance.
PHD broadcast director John Overend claims ITV pulled in more than £140m for January last year. “I imagine January and February will be adversely affected by September 11, which had a knock-on effect on the travel industry.”
Andrew Canter, broadcast director at Media Planning, says: “Some clients may want to get shot of money this side of Christmas because budgets will disappear next year.”
Overend believes next Easter, which falls early in March, will give an early indication of how the TV market will perform for 2002, as this is when retailers usually pile into the market.
Industry analysts do not expect an upturn in advertising revenue until the third quarter of next year.