News

Myers: Cable Ads to Surge in 2003

1/08/2003 4:13 AM Eastern

In releasing top-line data from its latest "Advertising Confidence Index,"
Jack Myers Report
said Wednesday that 143 advertising executives surveyed
late last month were bullish on ad spending for 2003, with network cable among
their top media choices.

The 143 respondents work for marketers, ad agencies, media-buying services
and media companies.

"A surprising 22.5 percent of marketers" plan to increase their ad spending
this year by more than 8 percent, Myers reported, with 45 percent planning to
boost spending from 1 percent to 8 percent and just 12.5 percent anticipating
budget decreases.

On the ad-agency side, Myers said, those buyers were "slightly less
confident," with 3.8 percent expecting clients to raise spending by 8 percent or
more and 60.4 percent foreseeing gains in the 1 percent to 8 percent range.

As before, media ad-sales executives were the most bullish, with 42 percent
looking for spending growth of 8 percent and up versus 42 percent expecting
gains below 8 percent.

Of the major media, network cable appeared to be poised for the greatest
growth. Myers reported that 26 percent of marketers planned to boost
network-cable budgets by 8 percent or more, with agencies anticipating smaller
budget growth.

For the broadcast networks, 22 percent of clients projected spending of at
least 8 percent.

Myers pointed out that agencies and clients appeared to have differing views
of the importance of integrated or cross-platform buys.

Among clients, 21 percent expected multimedia companies to see 8 percent-plus
spending gains this year, whereas only 2 percent of agencies agreed; 27 percent
of agency buyers looked for more moderate (1 percent to 8 percent) spending
growth, versus 18 percent on the client side, Myers added.

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