Myers Reports Inc.'s Jack Myers Report newsletter said Thursday that
its latest advertising-confidence research indicated that while overall ad
budgets are being reduced for 2002, there are some potentially bright spots.
According to Myers' latest survey of key advertiser and media-buying agency
executives, conducted Sept. 24, 32 percent said their media budgets would
decrease 'over the next 12 to 18 months' (up from 27 percent last June), and 52
percent said they'd 'remain stable' (up from 50 percent). Just 16 percent saw
spending increases ahead (down from 23 percent last June).
These executives now expect a media-industry recovery to come later than they
previously thought -- from year-end 2002 (36 percent) to early 2003 (24
percent), compared with early 2002 (22 percent) to mid-2002 (29 percent) last
Citing its updated advertising-confidence index, Myers indicated that network
radio showed the strongest percentage gain in confidence since last June's
survey, followed by national spot cable, network broadcast television, local
broadcast television, local cable and local newspapers.