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Advertising spending for all measured media went up 2.2% for the first three quarters of 2002 compared with the same time period for 2001, when the ad spending totaled $82.6 billion.
Gains for local advertising
The recent midterm elections, the strong upfront TV ad sales and a rebound from last years' Sept. 11 attacks were factors contributing to the the year-over-year gain, according to CMR's analysis. The largest spike in local advertising was for spot TV (14.7%), followed by local radio (9.5%) and local newspaper (7.6%).
Two bright spots on the national scene were network TV, up 7.1% on the strong upfront, and network radio, showing gains of 14.3%.
Spanish language TV
Spanish-language network TV continued to show dynamic growth, closely following national demographic trends, up 25.5% for the first three quarters of the year.
"Compared to the depressed levels of 2001, we have seen ad spending rebound nicely," said George Shababb, senior vice president CMR. "We estimate that ad spending for 2002 will reach the 2.5% growth we forecasted earlier in the year. This is due to the additional ad dollars that were spent in November to support the final election push and the upcoming holiday season."
Big spender: GM
General Motors Corp. remains the top ad spender for the first three quarters of 2002, even though spending by the automaker rose a modest 1.8%. Verizon Communications continued its strong push in the telecommunications industry, showing the most significant increase in overall ad spending, up 36.9%.