Ad spend back 10.6% in March, but newspaper bookings soar 30.2% in response to COVID-19

While the media agency-funded ad spend market dropped 10.6% in March, the 18th consecutive month of decline, newspaper bookings soared by 30.2% in response to COVID-19, according to the latest Standard Media Index (SMI) figures.

Newspaper bookings were the strongest of any medium for the month, but the true extent of COVID-19’s impact on ad spend and brand budgets is yet to be seen, with SMI AUNZ managing director Jane Ractliffe predicting an April decline of 30%.

SMI’s March format results. Click to enlarge