Decline in ad revenue of just 7% in 2010 is “vast improvement” over 2009 figures

National newspaper advertising revenue fell by a little over 7% during the 12 months of 2010, according to figures released today by National Newspapers of Ireland (NNI). A total of €193 million was spent advertising in NNI titles last year, compared with €209 million in 2009.

Encouragingly, the NNI figures show that the rate of decline in press advertising spend has slowed down dramatically, with the association saying the ad market is now moving back in the right direction.

“This time last year, we were talking about a fall of more than 33% in our ad revenues and trying to put a brave face on it,” said NNI Chairman, Paul Cooke. “Now that decline has slowed down to just 7% which is a vast improvement and shows that the market is definitely stabilising.

“With stability comes confidence, and as more advertisers come back into the market I think there’s still a very compelling case for press,” Mr Cooke said. “This year is going to be another tough one and we’re under no illusions about that, but I would say we’re moving back in the right direction.”

Meanwhile, with a press advertising spend of some €17 million last year, Mindshare has been confirmed as winner of the NNI ‘Agency League’ table for 2010.