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Press advertising in Spain expected to fall in 2011

Source: Reuters - Tue 8th Feb 2011

The results of a survey released today by Zenith Vigia, has revealed how Spanish businesses are expected to spend an additional 2.1% more on advertising this year than they did in 2010.

The media specialists, who questioned members of the media last month, released a statement which announced "A strongly negative cycle should have ended in which advertising investment in media fell by almost a third of its 2007 volume in two years." The Spanish economy emerged from an 18-month long recession in the first quarter of 2010, but has been limping along ever since with growth either stagnating or minimal in the following quarters.

"Although it isn't easy to make forecasts in a climate as confused as that of our country's economy, everything seems to indicate that the worst of the crisis has passed for the advertising market and we are approaching years of moderate growth."

However, advertising in the press will continue to witness a drop in spend this year, according to the survey. Newspapers polled in January expected a 3.5% fall over the year, compared with the 3.3% fall they forecast in November. Meanwhile, advertising spending on national TV saw a 3.3% increase in January, an increase on the 2.2% forecast in November.

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