U.S. advertising spending increased by 0.7% in 2014, reaching $141.2 billion, according to new data published by Kantar Media. The moderate gains were driven mostly by TV spots.
“Advertising growth in 2014 was primarily stimulated by the triple play of Winter Olympics, World Cup and midterm elections,” said Jon Swallen, chief research officer at Kantar Media North America. “Although total spending volume slowed in Q4, a majority of the top 1,000 advertisers actually increased their year-over-year spending during the period, a promising sign for the start of 2015.”
Overall, ad spending on television media rose by 5.5% last year, paced by a 14.7% jump on Spanish-language TV. Meanwhile, spending on online display advertising increased just 0.9%, although Kantar cautions that figure doesn’t yet include mobile or video advertising. As recently as 2013, though, ad spending on display media was up by 15.7%. Ad spending on magazines, newspapers and radio all decreased in 2014, continuing recent trends.
Counselor recently reported that spending on ad specialties in 2014 increased by 5.1% to reach a record $21.5 billion for the year.Go to www.asicentral.com/industry sales to view ASI’s exclusive report on how distributors fared in the fourth-quarter and full-year 2014.
Growth occurred in the categories of restaurants (0.1%), local services (4.7%), and insurance (7.8%). “The Affordable Care Act was a stimulus for increased ad spending by health insurers,” Kantar said – DV