Ad Revenues Down in 2008

Political ad spending will reach $2.5 billion this year, according to TNS estimates. But overall media advertising spending still shrank 1.3% from January to August compared to the same months last year, reports Ad Age. Minus the political ads, spending is down 1.6%. Without political spending and the Olympics, revenues are down 2.4% to $89.4 billion.

John Hendricks, exec VP-sales for Tribune broadcasting and interactive, told AdAge he blames all the usual suspects. "The automotive industry, telecom and retail are three very big categories that have been softer than anticipated in 2008, really because of the downturn in the economy."

(Photo by maz hewitt)

Despite Olympics, Elections, Ad Revenues Down In 2008