Story #71

Story #71 "Newspaper ad spend takes hit in April, dropping 26.3%"

As the article states, Australia’s media agency market is reporting a 6.8% decline in advertising expenditure in April 2017 to $501.9 million, with newspapers taking the biggest hit. According to preliminary figures from Standard Media Index (SMI), newspapers saw ad spend drop by 26.3% in April compared to the same period in 2016. The dramatic drop in revenue is a major driver of the cost-cutting initiatives currently underway at News Corp and Fairfax, with Fairfax recently axing 125 jobs from its editorial team. TV saw a smaller 6.6% fall year-on-year, with digital also dropping 9%, however data from the sector is usually revised later. Outdoor and radio both recorded 5.5% rises and cinema advertising climbed an impressive 32.9%.

• 6.8% decline in advertising expenditure 
• 125 jobs gone from editorial teams at News Corp and Fairfax
• 6.6% decline in TV
• Radio with 5.5% rise and cinema advertising with 32.9%