10% Decline in the ad spending in financial services
December 16, 2008 – 12:21 pm by Shalini Amarnani
There has been a sharp decrease in advertising spending by the mortgage and loan sectors in the USA. It is a 10 per cent slide in expenditures across the entire financial services industry this year, according to an analysis released today by Nielsen
Mortgage and loan companies, including Internet-based companies, combined to spend 62 percent ($778 million) less on advertising during the first three quarters of 2008.
Overall, ad spending by financial services companies dropped from $5.9 billion in Q1-Q3 2007 to $5.3 billion through September of this year, according to Nielsen. Nielsen’s data excludes outdoor and business-to-business magazine ad spending.
Despite the struggling economy, some financial services advertisers have boosted their ad budgets.
|
Rank |
Top 10 |
Q1-Q3 2007 |
Q1-Q3 2008 |
% Change: |
|
1 |
EXPERIAN GROUP LTD |
$272,812.22 |
$296,550.47 |
8.70% |
|
2 |
VISA INTL |
$274,445.58 |
$277,063.56 |
0.95% |
|
3 |
BANK OF AMERICA CORP |
$382,908.35 |
$268,241.29 |
-29.95% |
|
4 |
AMERICAN EXPRESS CO |
$254,246.17 |
$235,507.43 |
-7.37% |
|
5 |
JPMORGAN CHASE & CO |
$256,192.21 |
$211,056.74 |
-17.62% |
|
6 |
CITIGROUP INC |
$277,316.70 |
$203,875.95 |
-26.48% |
|
7 |
CAPITAL ONE FINANCIAL CORP |
$220,614.90 |
$174,779.07 |
-20.78% |
|
8 |
E TRADE FINANCIAL CORP |
$132,508.80 |
$164,972.01 |
24.50% |
|
9 |
MASTERCARD INC |
$172,496.25 |
$162,463.77 |
-5.82% |
|
10 |
SCOTTRADE INC |
$90,268.47 |
$152,709.40 |
69.17% |
|
Source: The Nielsen Company (January – September 2007 and January – September 2008). |
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