MADRID — Having bottomed out in 2002, television advertising expenditure in Spain is showing encouraging signs of recovery.
In the first half of the year, TV ad spend climbed to E1.147 billion ($1.285 billion), up 3.3% compared to the same period in 2002, according to a report published Thursday by Spanish research firm InfoAdex.
“The results reflect advertiser confidence in consumer spending, and that TV is taking a larger slice of the overall ad cake,” InfoAdex development director Camilo Arias told Daily Variety.
TV advertising placed in Spain over 2002 came in at $2.5 billion, 1.5% up on 2001. Advertising in general in Spain edged up 1.2% to slightly over $3 billion in the first six months of this year.
Spain’s economic boom has slowed since the 1990s. But its estimated 1.9% GDP growth this year is still tops among Europe’s “big five” countries.
A key factor spurring optimism among Spaniards was the quick end to the war in Iraq. Some 85% opposed the war, and many feared a wave of international terrorist attacks in its wake.
Three broadcasters fared especially well in the first half.
Ad revs at the Mediaset-controlled Telecinco rose 10% to $361 million off a mix of high-rating reality shows and primetime dramas, including the first season of family drama “Los Serranos.”
After an excellent 2002, pubcaster RTVE maintained ad revs at $399.4 million, thanks to fiction series stalwarts “Cuentame como paso” and “Ana y los 7.”
Catalan pubcaster TV3 saw ad revs increase 11% to $77.6 million, primed by the success of its daily soap “El Cor de la ciutat.”