Top Story : Media – 1H10 ad spending up 23.2% yoy Neutral
Sector Update
- According to Nielsen Media Research, Jun’s gross adex for print and TV media rose 25.5% yoy and grew 6.4% mom, led by TV (+31.4% yoy; +11.9% mom) while print reported commendable growth of 20.7% yoy (+1.9% mom). For 1H10, ad spend grew 23.3% yoy as adex for both TV and print media grew 29.4% and 18.6% respectively. Once again, we believe this strong yoy growth was mainly due to the low base effect as a result of the weak economic conditions a year ago, coupled with improving conditions and sporting events such as FIFA World Cup and Thomas/Uber Cup.
RHB Equity 360° - 22 July 2010 (Media; Technical: Pos)
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