Media advertising revenues will continue to show declines and any recovery in spend will be slow, rating agency Fitch has reported in its mid-year review of European media. While the huge decline in ad spend in Europe in recent times is easing, it will be several years before revenues return to the heady days of 2007 and early 2008.
Free-to-air TV will benefit from any recovery but press and outdoor will come under further pressure. Online spend will continue to increase and will have an estimated share of 16 per cent across Europe by 2011, compared to 12.7 per cent last year.
Search will grow in stature and its spend is more like what direct marketing was compared to media spend. There will be an increasing overlap between internet advertising spend and new media. Fitch warns about the dangers of charging for online content as Rupert Murdoch said he plans to do at News Corp from next year.
Ad spend to remain sluggish, Fitch reports
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