(MENAFN) Money spent on media and advertising in the UAE shrank in the second quarter this year, reflecting doubts of the promising economic recovery and the endurance of the media industry in the country, Khaleej Times reported.
Market research firm, Ipsos, said that money spent on advertising in the UAE, excluding spending on outdoor campaigns, dropped by 39 percent in the April-June period compared to the corresponding period a year earlier.
The market research firm also said that the pace of decline eased in the quarter, as total advertising spent during the period dropped by only 3 percent to around 354 million, compared with the 363.7 million spent in the first quarter.
According to data collated by Ipsos, print media, such as newspapers and magazines, was the hardest hit in the UAE, due to the sharp absence of advertisments flow from real estate developers. Data showed that newspaper ad spending plunged by half in the second quarter compared to the same period a year ago. The money spent on advertising in magazines declined by 10 percent during the same period.
Executive Vice-President of BPG Media, Satish Mayya, said that outdoor advertising too was harshly affected by the lack of real estate advertisements, especially on large billboards.