Advertisers have put the brakes on ad spend in the lead up to Christmas, with year-on-year growth slowing to 4.3% in November, according to figures from Standard Media Index (SMI).
SMI publisher Jane Schulze said figures from SMI, which collates data from media agencies, showed ad spend had dropped off dramatically last month, whereas September was up 13% and October was up at 17%.
Mediabrands Australia executive chairman Henry Tajer said year-on-year figures for November are weak because November 2009 was exceptionally strong: "It is generally agreed that November last year was the time when the market started seeing more positive growth, so of course when you are comparing against a stronger period the growth won't be as good.
"Also, retail sales and performance have been a bit sheepish in the lead up to Christmas, and these figures are probably a good litmus test of consumer sentiment. Having said that, overall market growth of 4% is still impressive."
Starcom MediaVest Group chief executive John Sintras said: "It's not surprising that the market is slowing. What is really surprising is the impressive length and rate of growth experienced in the earlier parts of the year. These figures indicate that things are settling down."
The figures also revealed that magazines experienced a drop of 12% in bookings, while newspapers fell 4% last month. Digital was up 10%, having slowed from growth of 30% across the July to November period.
Outdoor rose 3%, down from 29% in the July to November period. Television reported the greatest rate of growth, up 10%.
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