Telcos, banks rank highest Ad spenders as media expenditure hits N81 billion
• TV, Newspapers’ Ad spending surpass others
Though advertising expenditure dropped in the Above-the-Line (ATL) segment of the media last year to N81 billion, as against previous year’s spending of N88 billion, advertising budgets remain focused on television and newspapers, as outdoor and radio advertising volume drops.
Contrary to trends in the U.S. or Europe, where the lion’s share of ad budgets is focused on internet and TV marketing, media observers had projected that between 2018 and 2020 the majority of advertising dollars in Nigeria will be devoted to TV and video promotion.
In developed markets internet advertising expenditures are expected to surpass TV, however, in Nigeria TV advertising is and will remain strong in the near future, a trend the latest data have shown. Data made available by mediaReach OMD in its latest edition of MediaFacts Book showed that, of the N81 billion, advertising revenue recorded in the ATL segment, Television accounted for N29.4 billion, followed by newspapers with N20.8 billion, while outdoor advertising expenditure dropped to N20.7 billion.
Radio advertising however continued to experience a decline, recording only N10.1 billion last year. Although, there are claims about rise in advertising revenue in social media and other forms of the internet market, the latest edition of the book did not provide data in that regard.
In Ghana, advertising spending hit N62.5 billion (967.4m Cedis) with penetration higher in television, radio and the Internet.
According to the book, 43 per cent or N34.8 billion was expended in Lagos, while the remaining was spread across the six geo-political zones.
Some of the advertisers that accounted for the volume include, GSM Service providers, operators in the banking and finance sector, corporate entities, as well as food and beverages companies.The latest edition of MediaFactsBook gives an extensive coverage of English-speaking markets – Nigeria and Ghana; French-speaking markets – Côte d’Ivoire, Cameroon, Togo and Benin, in addition it covers 17 other markets in West and Central Africa.
The firm noted that media practitioners in West and Central Africa and Companies that are making inroads into the various market(s) in the region find the book useful.The book focuses on providing an in-depth Media overview, covering Consumption of Media, Ranking of Stations & Publications, Media Investment Trends, Top Categories & Advertisers, Demographic Understanding of Consumers. It also provides vital information and statistics about markets in terms of Key Facts, Economic Indicators among others.
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