Business

November 2, 2017

Advert expenditure dipped N7bn in 2016

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By Princewill Ekwujuru

THE total advertising expenditure across all media channels in Nigeria declined 7.15 percent to N90.9 billion in 2016, from N97.9 billion in 2015, a loss of N7.0 billion, according to Mediafacts, a just released report.

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Mediafacts, an advertising industry research publication, revealed that television advertisement expenditure for 2016 reduced by 19.2 percent to N31.5 billion from N39 billion in 2015. It stated that advertisers spent N12.6 billion on radio commercials, which was 16.56 percent lower than N15.1billion in 2015.

According to the report, print advertising recorded the highest drop at N12.6 billion, a whopping 46.8 percent decline from N23.7billion in 2015. However, on a positive note, advertisement spend on out-of-home, OOH, otherwise known as outdoor advertising mainly billboards, rose sharply by 43.28 percent to N28.8 billion compared to N20.1 billion in 2015.

In the breakdown of the advertisers spending the mobile telecom giant, MTN dominated the channels. TV advertising expenditure of top 20 advertisers show that MTN spent the highest with N2.8 billion, followed by Reckitt Benckiser Nigeria Limited with N2.1 billion, Airtel with N2 billion, Coca Cola spent N1.5 billion, Etisalat, Glo and Startimes N1.3 billion, Chi Nigeria Limited N1.2 billion and others.

Radio advertising expenditure of top 20 advertisers also show that MTN led with N0.9 billion, while Airtel spent N0.8 billion, Dufil and Etisalat spent N0.6 billion and others spent between N0.4 bilion to N0.2 billion.

In the print, MTN and Zenith bank spent N0.3 billion each to push their products in 2016. However, on OOH, Nigeria Breweries Plc topped the list with N3.2 billion followed by Guinness with N2 billion, Etisalat, Globacom and MTN paid N1.6 billion each to expose their ad in 2016, to mention a few.