Advertising spending continues to post increases, led by growth in TV and recovery in the print media. Experts predict Internet spending will top 2000's record, and business-to-business magazines appeared to turn a corner, after three years. Network TV is expected to see an upswing in August, thanks to spending on the Olympics.
Inflation beats oil, markets rise: The markets rallied from three straight months of losses, in spite of early-week fears brought on by oil prices of nearly $50 a barrel. But tame inflation numbers released mid-week, positive earnings reports among the likes of Home Depot and a late-week pullback in the oil price saved the day. Only two AdMarket stocks were down for the week and 48 were up.
Walt Disney Co. got a boost after its Florida theme parks reopened following Hurricane Charley, while Viacom rose after Blockbuster announced a dividend; Viacom owns a majority of the chain. WPP Group dropped on Aug. 20, even after announcing strong results (see story at right), but finished the week up 5.6%. Publicis Groupe rose after the Paris Bourse added the stock to one of its indices.
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended Aug. 20, based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices Aug. 13. Full data available on Bloomberg terminals under index BAAX.