Mediafacts, the periodic market trend information magazine recently published a new edition. According to Mediafacts publication, there has been an increasing decline in overall advertising spend across Nigeria media. It says that advertising spends in Nigeria is abysmally low.
Mediafacts is a periodic market trend information magazine. It is published by Mediareach OMD. It focuses on providing an in-depth Media overview, covering Consumption of Media, Ranking of Stations & Publications, Media Investment Trends, Top Categories & Advertisers, Demographic Understanding of Consumers. Mediafacts also provides vital information and statistics about markets in terms of Key Facts and Economic Indicators.
Here’s What the Publication Revealed about the Advertising Spend in Nigeria
- There has been a steady decline in advertising spend for the past 3 years. In 2016 the advertising spend was N91 billion, in 2017 it was N88 billion and 2018 N 81 billion.
- In the past five years, the growth trajectory, concerning ad spend in the nation’s media has not been too encouraging. For instance, besides 2015, where the ad spend was put at N97.9billion, a significant improvement from 2014 performance of N93billion, the industry has been experiencing a free fall in ad spend, in the past three years.
- The steady decline in advertising spend has led to a decline in ad fortunes of the nation’s media, comprising the TV, Radio
- According to the latest edition of the Report, besides the Press, which recorded a significant growth of 18.4 per cent, that is N20.8billion spend in 2018, as against the 2017 spending of N17.6billion; performances of other media, such as TV, Radio and Outdoor, in 2018, revealed that they did not attract the type of ad spend that came their way in the previous year.
- For instance, while TV could only muster N29.4billion in 2018, as against N33.5billion, recorded in the previous year; the total ATL ad expenditure for Radio in 2018 remains N10.1billion, as against its performance of N12.4billion in 2017. Outdoor did not fare better as its ad spend dropped to N29.4billion in 2018, from the N33.5billion it attracted in 2017.
- The report revealed that the nation’s telecommunications sector still remains the highest spender, in the ATL category, with MTN, Airtel topping the list of the Top 20 Advertisers for the year, with ad spends of N7billion and N3.6billion, respectively, constituting 13 per cent of the total ad spend in the category. Others in the category include the State governments, Nestle Nigeria Plc and Reckitt Benckizer Nigeria Plc.