Spanish media industry takes more gloomy attitude on 2013 advertising
ReutersMADRID--Spanish media companies expect advertising spending to fall almost twice as fast as previously thought in 2013 as their clients face another year of economic recession.
January 31, 2013, 12:06 am TWN
Spain's media have been struggling ever since the global credit crunch hit, coping with five years of stagnation or recession and with austerity measures hitting spending and confidence.
Based on forecasts from sales and marketing directors at Spanish media groups, a survey from consultancy Zenith predicted Spain's battered advertising sector would not pick up until April 2014.
The poll released on Tuesday forecast advertising spending will fall 7 percent this year, almost double the 3.6-percent fall expected just two months ago.