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U.S. Ad Market Declines For 10th Straight Month

In April, the index dropped by 1.5% compared to the same month in 2022, representing the smallest decline since September 2022.

Maddy Troy

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The U.S. Ad Market Tracker continued its downward trend in April, marking the tenth consecutive month of decline. April’s rate of decline was the mildest since the ad recession began in July 2022, however.

In April, the index dropped by 1.5% compared to the same month in 2022, representing the smallest decline since September 2022.

These findings suggest that the decrease in demand from the nation’s largest advertisers and agencies may be approaching a bottom, particularly within the major advertising categories. The data shows that demand from the top 10 categories experienced a 1.2% decrease in April, while all other categories saw a decline of 2.0%.

Digital media’s share of U.S. ad spending increased by four percentage points to reach 60% in April, compared to 56% during the same month the previous year.

The tracker, which combines monthly ad spending data from the major agency holding companies and independent firms through Standard Media Index indicates that at least those sections of the U.S. ad economy appear to be in recession.

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Media Business

Broadcasters Foundation of America Set for Annual Giving Day Thursday

More than 1,000 broadcasters have been aided by the organization.

Barrett News Media

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A photo of the Broadcasters Foundation of America logo

The Broadcasters Foundation of America is set to hold its annual Giving Day on Thursday, June 13th.

For more than 70 years, the organization has supported broadcast radio and television professionals during challenging financial times. More than $20 million in grants have been funded by the foundation since its inception.

More than 1,000 broadcasters have been aided by the organization.

To donate to the fund, click here.

In addition to its Giving Day, the organization will hold a mixer at the iHeartMedia studios in New York from 5:30-7:30 PM on Thursday.

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Media Business

Beasley Media Group Promotes Paul Blake to Philadelphia Cluster Manager

“I look forward to continuing our tradition of excellence and innovation in the media industry.”

Barrett News Media

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A photo of Paul Blake and the Beasley Media Group logo
(Photo: Beasley Media Group)

Beasley Media Group has announced that Paul Blake has been promoted to cluster manager at its Philadelphia group.

After previously serving as the Vice President and Director of Sales for the past 22 years, Blake moves up to lead WMMR-FM, WMGK-FM, WXTU-FM, BEN FM, 97.5 The Fanatic, WWDB 860, and WTMR 800 in Camden, New Jersey.

In his new role, Paul Blake will report directly to Beasley Media Group President Bruce Beasley.

“I am deeply honored and thrilled to take on the role of Cluster Manager for Beasley Media Philadelphia,” said Blake. “I extend my heartfelt gratitude to the Beasley family for their unwavering trust and confidence in me. It is an incredible privilege to lead one of America’s premier groups of radio stations and digital content creators, and I look forward to continuing our tradition of excellence and innovation in the media industry.”

“Paul is the perfect person to take our Philly-based radio cluster to the next level,” added Beasley Media Group President Bruce Beasley. “His longstanding dedication, insight and leadership is the perfect fit to lead our team into the future. We are thrilled to have him on our team.”

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Media Business

AM/FM Radio Most Important In-Car Entertainment Option for Buyers, Xperi Study Shows

“Audio continues to dominate, confirming radio’s importance as vehicle entertainment’s anchor.”

Barrett News Media

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A photo of the Xperi logo

The future of AM radio in vehicles — especially electric models — has been cloudy at times in recent years. But a new study from Xperi shows terrestrial radio remains a high priority for car buyers.

According to the study, 59% of respondents said AM/FM radio remains the most important entertainment option when considering their car purchase.

Additionally, terrestrial radio remains the most popular audio format for music listening. A nice portion of respondents — 69% — said it’s their top choice. Streaming music was used by 53% of those surveyed, while 30% said they use satellite radio.

Some of the new study focused on the use of video games in cars. 58% said they would like to see rear cabin screens, while 54% said they would welcome front cabin screens. 60% of Gen Z respondents and 49% of millennials said gaming is more prevalent in rear-seat passengers than front-seat passengers, though.

“Consumer perception of the car as a leading ‘third space’ is driving demand for audio, video, and gaming,” said Xperi Senior Vice President and Connected Car GM Jeff Jury. “Audio continues to dominate, confirming radio’s importance as vehicle entertainment’s anchor.

“But, the growing impact of video is clear, not only in its dramatically increased usage but also in consumers’ increased interest in front and rear cabin screens. And the emergence of in-vehicle gaming with younger generations, particularly casual games, is indicative of its growing importance to in-cabin entertainment platforms.”

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