U.S. Advertising Spending Declines -- TV, Newspapers Take the Biggest Hits

US ADVERTISING SPENDING DECLINES -- TV, NEWSPAPERS TAKE BIGGEST HITS
[SOURCE: Wall Street Journal]
Advertising spending in the U.S. slipped 0.3% in the first quarter to $34.9 billion compared with the year-earlier quarter, according to TNS Media Intelligence. The ad-tracking service notes that last year's first quarter was boosted by Winter Olympic Games-related ad spending. But even factoring out the temporary increase of that special event, "the core growth rates have slowed further from last year's lackluster levels," said TNS President and Chief Executive Steven Fredericks. Hardest hit were network TV -- down 7.2% to $6.1 billion -- and national newspapers, which sank 5.3% to $810 million in the quarter. Meanwhile, Internet display advertising jumped 16.7% to $2.7 billion.
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