P+ Measurement Services, a media intelligence and audit agency and MediaTrak recently partnered up. They worked together to analyze the Nigerian Banking Industry Advertising spend for June 2019. They then released a short report based on their findings. On this post, we would be discussing the report on the Nigerian Banking industry advertising spend for June 2019.
The Nigerian Banking Industry Advertising Spend for June 2019
To carry out the study, P+ Measurement Services and Media Trak analyzed 21 commercial Banks in Nigeria. They analyzed the Banks advertising spend on television, radio and print media. Advertising spends on social media was not added to the research. Their research findings on the Nigerian banking industry advertising spend for June 2019 revealed the following:
- It shrunk drastically when compared to the previous month of May.
- The report shows that there was a decrease of N35,715,562 in the total Nigerian Banking Industry media adverts spend in June compared to the month of May.
- TV media adverts in the Banking industry for June saw a decrease in media spend, compared to May with a reduced spend of N26,494,268.
- Radio media adverts in June also saw a decrease in media spend, compared to May with a reduced spend of N19,576,488
- Print media adverts in the Banking industry for June saw an increase in media spend, compared to May with an increased spend of N10,355,194.
Like we said earlier, advertising spends on social media was not added to the study. They also didn’t state why there was such a drastic drop in advertising spend in the banking industry in June. It could be that the banking industry moved to social media advertising or they simply cut back on advertising.
About P+ Measurement Services
They are a Nigerian indigenous Independent Communications/PR Measurement and Evaluation agency. They are focused on delivering detailed Media Monitoring, Measurement, Evaluation and Analysis across the full spread of media channels.
They have been in business since the year 2000, they have a passion for solving the challenge of media compliance, media analysis and ensuring value for spend is attained through a commitment to Integrity and investment in Technology. Their services are designed to deliver optimum value to advertisers and also proffer solutions to media planning puzzle