Seoul – Advertising billings in Korea have fallen by more than 50 percent year on year in the first two months of 2009, according to figures detailing spend across the four major media, as reported by Nielsen’s Korean arm. Investment in terrestrial TV advertising slumped from almost US$200 million last January and February to $80 million for the same period this year. Radio advertising, meanwhile, fell from $26 million to $7 million; newspaper advertising from $393 million to $152 million; and magazine advertising from $33 million to $13 million. The decline is more pronounced than the 10 to 15 percent predicted by Kobaco, the Korean broadcast advertising regulatory body, at the end of 2008. Sources, however, added that advertisers were tipped to increase spend from April, having cut back dramatically at the onset of the downturn as part of a ‘hold and see’ policy.
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