The Nigerian print media experienced a short fall from advertising revenue in 2015 compared to 2014. In 2015, the print media attracted a total of N23.7 billion revenue as against N25.8 billion the previous year, representing a drop of N2.1 billion.
MediaReach OMD, a specialist media company that provides media planning, buying, control and inventory management services gave the report in its 2015 Mediafacts, a key media resource for marketing professionals in West and Central Africa.
According to the report, “Lagos accounted for almost 100% of media spend on print medium” last year. Also, quarterly analysis of the total print advertising expenditure, shows that though there is almost an equal dispersion of spend across the four quarters, there is a marginal skew in spend in the fourth quarter with a total value of N4.7 billion. The first, second and third quarters attracted advertising values of N5.7 billion, N6.0 billion and N7.3 billion; respectively.
The 2015 Mediafacts further revealed that the trend of the advertising expenditure over the past 10 years showed that the print media attracted the highest amount of revenue of N25.8 billion in 2014. The figure for last year was primarily driven by the personal paid, corporate, public service, banking and finance, educational imparting knowledge/skill, communication/ telecommunication, hotel & catering, motor vehicles, transport & travel, building, construction & agriculture, electrical & electronics.
The report also identified religion, paycard, insurance, shopping, broadcast, cable TV, furniture & furnishings, computer & secretariat, as well as generators and others as the top 20 product categories that contributed to the print media revenue during the year under review. The report stated: “Top 20 categories contribute 96% of the total print media revenue in 2015. Corporate communication ads contributed 19% while personal paid announcements accounted for the bulk (37%).”
According to the Report, the top 10 advertisers on print in 2015 include: sundry advertisers (other inform. Services) – N12.3 billion; the State Government – N2.3 billion; sundry advertisers (Services) – N1.1 billion; university & other higher institutions – N1.0 billion and sundry advertisers (capital goods & equip) – N0.6 billion. Others are: Guaranty Trust Bank (N0.5bn), Etisalat (N0.3bn), Globcom (N0.3bn), MTN (N0.3bn) and Zenith Bank (N0.3bn).
Mr. Tolu Ogunkoya, Managing Director/CEO of mediaReach OMD, said “Nigeria’s media is one of the most vibrant in Africa. State radio and TV have near-national coverage and operate at federal and regional levels. All 36 states run at least one radio network and a TV station. There are hundreds of radio stations and terrestrial TV networks, as well as cable and direct-to-home satellite offerings.” (Marketing Space)