Nielsen: 7 of Top 10 Advertisers Cut Spending in 1H07

Nielsen published a report yesterday that concurs with TNS’s recent finding that U.S. ad spend declined the first half of the year.  Online spending was strong–up 23%–but we still question how long this strength can continue if the overall pool of ad dollars shrinks.  (24/7 Wall St points out that this spending decline occurred when the economy was strong, and offers a gruesome forecast for what will happen if we head into a recession.)

Nielsen also adds other striking details:

  • 7 of the top 10 US advertisers cut spending y/y in the first half.
  • Spending in 5 of top 10 categories decreased y/y–automotive the most (10%)
  • GM cut spending 28%
  • TV product placements are growing fast as networks try to save themselves
  • Magazines are holding their own, with revenue up 8% year over year.
  • Newspapers, radio, and B2B magazines are getting killed.