Ad spend is spiraling, but which way?
The GCC ad spend report from January to September has a positive ring to it. Will it continue ringing in the coming months?
November 17, 2008 2:30 by kippreport
Pan Arab Research Centre (PARC) recently published the GCC ad spend report for the first three quarters of this year (from January to September), and apparently there’s been an increase of 28 percent over the same period last year.
According to the report, insurance and real estate sectors were the largest advertising spenders with a 33 percent share up to the third quarter of 2008, with an increase of 114 percent compared to the same period of 2007.
But now, with the financial turmoil, this is bound to change. With real estate companies cutting jobs, they are bound to cut their advertising.
So, where will media going to get the advertising money it survives on?