Nigerian ad industry recovers, spent N 103 bn in 2013
19 Jul 15, 06:29 PM posted in
By Princewill Ekwujuru on August 26, 2014
This article was culled from http://www.vanguardngr.com/2014/08/nigerian-ad-industry-recovers-spent-n103bn-2013
Nigeria’s advertising industry recovered in 2013 from the slide it recorded in 2012, as the media spend by advertisers across the country amounted to N103.8 billion, representing an increase of N12.95 billion over the N91.9 billion recorded in the previous year.
This was revealed in the 2013 mediafacts, a key media resource for marketing professionals in West and Central Africa published annually by mediareachOMD, a media planning, buying, control and inventory management services company.
The publication also said that the total above-the-line, ATL, advertising expenditure in 2013 increased by 13 percent over the 2012 figure. The growth, it stated, was primarily driven by the Beer sector, Banking and Finance, and Personal Paid Adverts.
With the total advertising spend of N91.9 billion it recorded in 2012, the nation’s advertising industry suffered a 10.52 per cent drop when compared to the N102.7 billion earned from advertisers the previous year.
The 2013 mediafacts also showed that the television sub-sector dominated advertising expenditure for the year. The sub-sector attracted a total spend of N47 billion which represents 45 per cent of the overall advertising spend for the year.
The report said that with N23.2 billion spent on the outdoor advertising during the year, the Outdoor subsector came second after television. Similarly, the report stated that Radio and Print media attracted advertising spend of N15.1 billion and N18.5 billion, respectively in 2013.
"The Television dominated media spends of advertisers – accounting for 45 percent of the total expenditure of N103.8 billion in 2013. While TV and Radio spends dropped by 9 percent and 2 percent points, Out–of- Home, OOH, and Print increased by 3 percent and 8 percent, respectively,” the report stated.
Meanwhile, in its analysis of the quarterly performance, Mediafacts said that of the total advertising figure for 2013, advertisers spent a total of N28 billion, representing 27 per cent of the overall spend during the second quarter of the year. It also said N26.6 billion, N25.8 billion and N23.4 billion were spent during the first, third and fourth quarters, respectively.
The regional analysis of the report showed that with the N44 billion volume of advertisements placed within Lagos alone, the state took 42 percent of the total advertising spend during the year. The North had 27 percent (N27.9 billion), while the West had 16 percent (N16.5 billion), and the East 15 percent (N15.4 billion).
According to the report, the top 20 products that generated more advertisements during the year include: telecommunications, Personal Paid Announcements, Lager, Gaming/Entertainment, corporate, banking/finance, and religion.
It stated: "the top 20 categories contribute 60 percent of total spend. Telecom continues to be the highest spender with overall spends of N14.7 billion (14 percent) of the total ATL advertising in 2013.”