Ad spending rose in 2003, led by a recovery in print and continued growth on cable, but spot TV suffered. Battered business-to-business magazines posted their first annual increase in three years, while network TV was up only slightly in comparison to last year's Olympic period.
Trade, terror tank stocks: The market slipped early in the week, as strong retail sales reports couldn't trump news of a record trade deficit. By midweek, the Dow Jones Industrial Average had given back all its gains for the year to date. The selloff picked up speed after news of a terrorist attack in Spain and another weak consumer confidence number, salved by a late-week rally on tech stocks. Only seven AdMarket stocks were up for the week, 42 were down and Grey Global Group was unchanged.
Geopolitical fears sent agency shares sliding to the bottom of the index, but direct marketers held their own. Catalina Marketing rose in spite of news of a federal probe into its accounting, while Publicis Groupe dropped in spite of posting gains in 2003 and Interpublic Group of Cos. gave up earlier gains to close down 5.31% for the week. (See stories, right)
Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended March. 12, based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices March. 5. Full data available on Bloomberg terminals under index BAAX.