The Ad Market

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Recovery chugs along: In spite of the fears for what the war in Iraq would do to ad spending, measured media spending rose nearly 5% in the first quarter of 2003, helped by strong results among the broadcast media, especially TV. Network TV spending dropped, mainly due to comparisons to the Olympic period in 2002 and the absence of the Olympics also hurt national newspapers slightly. Print media continued to recover, especially business-to-business publications, which finally posted a positive month, after nearly two years of hardship.

1st Qt. 1st Qt.

Media 2003 2002 % Change

Network TV $5,050.0 $5,369.0 -5.9%

Spot TV $3,736.8 $3,716.1 0.6%

Cable TV $2,506.3 $2,123.9 18.0%

Syndicated TV $812.1 $709.2 14.5%

Spanish language network TV $509.7 $426.5 19.5%

Magazines $3,705.8 $3,307.6 12.0%

National newspapers $675.9 $680.5 -0.7%

Local newspapers $4,843.4 $4,639.1 4.4%

Sunday magazines $328.9 $303.3 8.4%

Local magazines $77.1 $69.8 10.4%

Local radio $1,397.7 $1,334.7 4.7%

National spotradio $526.9 $474.2 11.1%

Network radio $227.0 $208.1 9.1%

Internet $1,520.2 $1,355.0 12.2%

Outdoor $562.4 $550.6 2.2%

Consumer total $26,480.2 $25,267.6 4.8%

B-to-B magazines $2,003.6 $1,898.9 5.5%

Total $28,483.9 $27,166.3 4.9%

Note: Dollar figures are in millions

Source: TNS Media Intelligence/CMR

AdMarket 50

Yellow alert perks up blue chips: The reduction in the nation's alert status added a late-week surge to the continuing stock-market rally. Investors continued to buy, thanks to news of increased manufacturing activity that trumped fears of rising unemployment. Only six AdMarket stocks were down and 44 were up.

Media companies rose in anticipation of relaxed ownership rules and agency stocks performed better, as investors continued to bank on a recovery. But Cordiant Communications Group brought in the rear for the fifth week in a row, after the company acknowledged buyout offers are coming in below its expectations. Intel led a tech stock rally, while Pfizer took a dive after Bayer announced it will begin marketing a Viagra rival in the U.S. next year.

Advertising Age and Bloomberg's AdMarket 50 index of 50 top publicly traded marketer, agency and media companies for the week ended May 30, based on stock trading data supplied by Bloomberg financial news service. All comparisons are vs. closing prices May 23.

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