Data released by UBS on the Australian Media Sector shows that in May:
- Radio spend fell by 5%
- Metropolitan newspaper spend fell by 14%
- Metropolitan television spend fell by 0.6%
- Digital spend increased by 12%
- Outdoor spend increased by 9%.
- Regional newspapers spend increased by 24%
This further emphasises the demise of major metropolitan newspapers. Interestingly however it also points to growth in the regional newspaper sector.
Whilst the UBS report suggests that the advertising market, which overall declined by 0.1% in May, may begin to recover in the 2013 financial year, there is little doubt that there is a strong trend away from “old media”.
Furthermore I would argue that businesses that are in a slump now, are in many respects, those addicted to the old media like residential building companies, property developers and the like.
Australia is going through a period of enormous change and the fact is that we will all need to become part of that change or be left behind.
That’s what I say, what say you?