Print media attracts N23.7b advertising revenues in 2015

The Nigerian print media attracted about N23.7 billion revenue out of the total N97.9 billion advertising spent in 2015; representing a drop of N2.1billion compared to N25.8 billion it recorded in 2014.

This is according to information contained in the just-released 2015 Mediafacts, a media resource for marketing professionals in West and Central Africa produced yearly by mediaReach OMD, a specialist media company that provides media planning, buying, control and inventory management services.

It said: “Lagos accounted for almost 100% of media spend on print medium” last year. Also, quarterly analysis of the total print advertising expenditure, shows that though there is almost an equal dispersion of spend across the four quarters, there is a marginal skew in spend in the fourth quarter with a total value of N4.7 billion. The first, second and third quarters attracted advertising values of N5.7 billion, N6.0 billion and N7.3 billion; respectively.”

The report further revealed that the trend of the advertising expenditure over the past 10 years showed that the print media attracted the highest amount of revenue of N25.8 billion in 2014. The figure for last year was primarily driven by the personal paid, corporate, public service, banking and finance, educational imparting skill, communication, telecommunication, hotel and catering, motor vehicles, transport and travel, building, construction and agriculture, electrical and electronics.

It identified religion, paycard, insurance, shopping, broadcast, cable TV, furniture, furnishings, computer secretariat, as well as generators among top 20 product categories that contributed to the print media revenue during the year under review.

In addition, among top 10 advertisers on print in 2015 were sundry advertisers services – N12.3billion; state government N2.3billion; university and other higher institutions, N1.0billion and sundry advertisers capital goods and equipment, N0.6 billion.

Managing Director and Chief Executive Officer, mediaReach OMD, Mr. Tolu Ogunkoya, said: “Nigeria’s media is one of the most vibrant in Africa. State Radio and TV have near-national coverage and operate at federal and regional levels. All 36 states run at least one radio network and a TV station. There are hundreds of radio stations and terrestrial TV networks, as well as cable and direct-to-home satellite offerings.”