The Nigerian print media attracted a total of N18.5 billion revenue from advertising in 2013 more than doubling the N9 billion it recorded in 2012.
This information is contained in the just-released 2013 Mediafacts, a key media resource for marketing professionals in West and Central Africa produced annually by MediareachOMD, a specialist media company that provides media planning, buying, control and inventory management services.
According to Mediafacts, “due to new publication launches and increased brand activities in print media, the spends in the print media increased more than 100 percent and thereby set a new record for the sector. In the past 10 years, the highest revenue the print media had from advertisers before now was in 2010 when advertising spend was N16.5 billion.
However, “Print medium was largely used only in Lagos and a marginal 1% spend in the Northern region.” the report said.
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 second quarter with a total value of N5.1 billion. The first, third and fourth quarters attracted advertising values of N4.2 billion, N4.5 billion and N4.6 billion; respectively.
Further, the 2013 mediafacts further revealed that the growth in the print media spend, was primarily driven by the personal paid, corporate, banking and finance, telecommunications, education, hotel, public service, motor vehicles, lager and handsets adverts.
According to the Report, Globacom, Transcorp Hilton Hotel, MTN, Guaranty Trust Bank, Etisalat, Guinness Stout, Airtel, Diamond Bank, Zenith Bank and Skye Bank are the top 10 big advertising spenders in the year under review.
According to Mr. Tolu Ogunkoya, Managing Director/CEO of MediareachOMD, “besides the in-depth coverage of Nigeria and Ghana’s media markets, this latest edition of mediafacts provides deeper insight into the Cameroonian market. Media practitioners in the West and Central African regions, and companies making inroads into the markets in these regions would find this publication useful”.