INCREASE OF 9.8%
The business and technology and retail and entertainment industries led the way to the 9.8% hike from 1998, according to Competitive Media Reporting numbers.
Retail and entertainment had the biggest growth with 17.5% over 1998 at $7.9 billion. Business and technology spent the most on all TV advertising with almost $10 billion, a 16.5% jump from 1998.
Cable TV networks received the biggest boost in advertising spending last year with a 31.2% rise to about $8.8 billion. Spending for the top 50 cable advertisers climbed 26.6% to $3.7 billion in 1999.
Consumer products giant Procter & Gamble Co. spent the most on cable TV advertising with $275.2 million, but Ameritrade, a popular online trading Web site, posted the largest growth, increasing its spending almost each more than doubling their cable ad allocations last year.
GE TRIPLES SPENDING
It's no surprise that the greatest number of ad dollars went to network TV. The $18 billion spent in 1999 was a 10.6% increase from 1998.
The top 50 network TV spenders put up more than $10.3 billion, with companies such as General Electric Co. tripling its network advertising from $33.6 million in 1998 to $111 million last year. Sprint Corp., with pitchwoman Sela Ward wooing consumers to switch to the telecommunications powerhouse, upped its spending by 70.4% to $205.2 million. General Motors Corp. shelled out the most in advertising with $887 million, a 14.1% increase.
Fifteen companies out of the 50 decreased their network spending with Schering-Plough Corp., marketer of Claritin, showing the largest drop of 26.8% to $109 million.
Kia Motors' spot TV advertising grew by more than 56%, the highest of any company in 1999, although overall spot TV dropped by less than 1%. Syndicated TV ad spending came just shy of $3 billion, a 11.3% increase over 1998.