Metropolitan television advertising spend fell 2.7% in March compared to the same month last year, according to early SMI (Standard Media Index) numbers released to subscribers but not yet made public.
This follows a 7.3% drop in TV ad spend in February, a dip expected in the absence of the Australian open tennis which last year moved from January.
In January this year, with tennis back in its usual month, metro TV advertising grew by 13.5%.
Over the three months to March, media agency bookings show TV ad spend 4.3% higher and just 1% below the same three months in pre pandemic 2019.
Television is also currently basking in the glow of political party spend during the federal election which will help bump ad spend numbers for the June quarter.
Seven West Media, in its February trading update, said March quarter metropolitan TV bookings were tracking 13% ahead of a year ago.
Nine Entertainment expected free-to-air EBITDA (earnings before interest, taxes, depreciation, and amortisation) of 10% in the second half and total television EBITDA growth of close to 20% for the full financial year.
Overall, the advertising market is expected to show another positive month for March once digital booking numbers have been finalised.
SMI numbers will also show radio on the up and up. Advertising revenue for metropolitan commercial radio stations increased 3.2% in the March quarter, totalling $158.347 million up from $153.418 million recorded in the same quarter in 2021, according to data compiled by Milton Data and released by industry body Commercial Radio Australia.
Cinema continues its rapid surge higher, with ad spend up more than 60% in March.
SMI numbers will show government spend is still high in March because it was before the federal election was called but it will start to drop off in April.
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