Traditional media grow ad revenues, despite rise of cable, Internet

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New York--Traditional media, particularly broadcast television and newspapers, continue to grow ad revenues despite losing eyeballs to cable TV and the Internet, according to a report issued by media merchant bank Veronis Suhler Stevenson.

The number of hours spent with basic cable and satellite TV increased 7.8% on a compound annual basis from 1997 to 2002. Time spent with the Internet increased 43.1% in the same period. On the other hand, the report said, the average consumer spent 926 hours watching broadcast TV in 1997, which declined at a compound annual rate of 3.2% to 786 hours in 2002. Nonetheless, broadcast TV advertising expenditures rose at a compound annual rate of 2.5% from 1997 to 2002. At the same time, daily newspaper ad spending increased 1.3%.

--Sean Callahan

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