Advertising spending for the first half of 2008 declined by 1.4% compared to the same period last year, Nielsen Monitor-Plus reported Thursday.
Despite a continued softening of the economy, several media showed healthy growth in advertising for the first half. Advertising on Cable TV (+8.1%), Syndication TV (+7.2%), and National Sunday Supplements (+7.2%) saw the largest growth, according to Nielsen. Spot Radio fared worst among the 19 media categories analyzed by Nielsen (-10.1%).
Although overall Internet ad spending, when including paid search and online video advertising, was up by 11% during the first half of this year, image-based Internet advertising declined by 6% during the first half of 2008, compared to the same period in 2007.
Among specific product categories, Credit Card Services (+18.95%) and Direct Response Products (+20.48%) showed the strongest ad spending gains, while the Automotive (-.01%), Pharmaceutical (-4.76%), and Motion Picture (-4.64%) categories recorded the largest advertising declines.
The decrease in image-based Internet advertising was driven by a 27% drop in online ad spending by financial services companies, which decreased their spending from $1.5 billion in the first half of 2007 to $1.1 billion during the first two quarters of this year.
Other industries -- entertainment (+47%), automotive (+45%), and consumer goods (+32%) -- showed strong increases in image-based online advertising during the first half of 2008.
View the full press release.
View Nielsen Online's report on first half 2008 online ad spending.