The advertising market staged a strong recovery in 2004 with major gains for national and regional press, new figures indicate.
The data from the Institute of Advertising Practitioners of Ireland (IAPI) show overall advertising expenditure rose by 18 per cent in 2004 compared to 2003. The amount spent on advertising during the 12 months was €1.3 billion.
The figures are compiled from an analysis of 16,000 advertisers and 26,000 brands.
"During 2004, most media showed good growth with national and regional press, as well as television, performing best," said a statement from the institute.
National press was up 23 per cent, the same figure as the regional press; television was up 21 per cent, cinema grew 14 per cent, local radio was up 10 per cent and outdoor put on 4 per cent.
The only sectors recording a drop in activity were national radio (down 2 per cent) and magazines (down 6 per cent).
The IAPI figures are based on published rate cards and do not take account of discounts agreed between clients and media outlets.
A separate report from Merrion Stockbrokers also indicates that the strong pick-up in advertising is likely to continue this year.
The report, which looks at prospects for the advertising market and the implications for Independent News & Media, was circulated yesterday by the brokerage.
Merrion said it surveyed managing directors and media planners from nine of the 10 top agencies in the Republic and most delivered an upbeat assessment.
"Our respondents' outlook for market growth in 2005 ranged from 5 per cent to 20 per cent, with the majority of the responses in the 8 to 11 per cent range and an average of 10 per cent," it said.
