Publishers say worst over amid bleak CMR

<p>HONG KONG: Advertising bookings in regional publications slowed in </p><p>January, however, most of the worst affected publishers say their </p><p>numbers have since rebounded strongly. </p><p><BR><BR> </p><p>According to CMR International, adspend in the top 15 magazines and </p><p>newspapers totalled USdollars 16.9 million in January, up a marginal 2.6 </p><p>per cent year-on-year. </p><p><BR><BR> </p><p>Asiaweek, Business Week, Newsweek Asia, Time Asia, USA Today and Yazhou </p><p>Zhoukan were the worst affected. All saw a double-digit drop in ad </p><p>bookings. </p><p><BR><BR> </p><p>The slowdown was attributed to advertisers holding back on spending </p><p>because of an uncertain economic outlook, stemming from news at the time </p><p>that the US economy might be slipping into a recession. </p><p><BR><BR> </p><p>"Memories of the last big regional downturn are still fresh in the minds </p><p>of advertisers because it ended just a year-and-a-half ago so it's </p><p>natural for them to take a more cautious stance at any negative news," </p><p>said Adrian King, MediaCom's director of media research and strategic </p><p>planning. </p><p><BR><BR> </p><p>King also said that in hard times, regional advertisers turn to </p><p>advertising through various local channels on a market-by-market basis </p><p>because costs are lower, although he said it is arguable if the impact </p><p>would be the same. </p><p><BR><BR> </p><p>Peter Brack, Asiaweek president, whose publication was among the worst </p><p>hit in January, described the CMR figures as skewed. He pointed to the </p><p>big spike-up in spending in January last year as advertisers, realising </p><p>the recession was coming to an end, started spending again. This time </p><p>around, the opposite appears to have happened - advertisers have adopted </p><p>a wait-and-see approach before making their commitments. </p><p><BR><BR> </p><p>However, Brack said that the magazine improved its position in February </p><p>and March and that it is now "20 per cent up year-on-year". </p><p><BR><BR> </p><p>Business Week regional director, Hong Kong, Christina Chan, described </p><p>the current mood among advertisers as "mixed but on the optimistic </p><p>side", reflecting the fact that the magazine now has "more than 60 per </p><p>cent of its annual renewals signed up already". </p><p><BR><BR> </p><p>CMR INTERNATIONAL REPORT ADVERTISING REVENUE (US dollars) </p><p>Magazine Jan 2000 Jan 2001 Year-on-year </p><p> (%) </p><p>1 Asian Business 70,000 124,900 77 </p><p>2 Asian Wall Street Journal 3,403,515 4,463,807 31 </p><p>3 Asiaweek 1,236,285 783,870 -37 </p><p>4 Business Week 953,539 854,657 -10 </p><p>5 Economist 824,500 790,850 -4 </p><p>6 Far East Economic Review 1,115,291 1,348,588 21 </p><p>7 Financial Times 643,038 755,027 17 </p><p>8 Forbes Global 76,635 529,361 591 </p><p>9 Fortune 757,541 899,529 19 </p><p>10 Harvard Business Review 6,305 3,625 -43 </p><p>11 International Herald Trib 1,283,858 1,298,622 1 </p><p>12 National Geographic 196,269 395,411 101 </p><p>13 Newsweek Asia 1,989,262 1,653,078 -17 </p><p>14 Time Asia 2,872,157 2,235,816 -22 </p><p>15 Yazhou Zhoukan 561,737 398,078 -29 </p><p> Total 15,989,932 16,535,219 3 </p><p>Produced by CMR International. </p><p><BR><BR> </p>