SMI: Ad Revenue Dropped 7% In August

U.S. advertising revenues in August took an expected hit -- down 7% for the month.

That's due, in large part, to unfavorable comparisons to high TV media spending from the Summer Olympics in August 2016, reports MediaPost.

Standard Media Index says overall TV advertising spending for the month was down 25%, with broadcast TV networks sinking  54% and local TV station national spot advertising down 35%.

Cable TV networks and U.S. syndication fared much better  -- just losing 1% and 2% in the month. Local cable advertising grew 9%.

All the while digital media continued to grow -- up 12% in the month. Social media was up 26%; search advertising, gaining 17%; and internet radio, 36% higher. One of the big losers -- in part from the Olympics performance of a year ago -- was TV network-associated digital advertising, down 20%.

Like TV, other traditional media during the month endured losses. Magazines were down 12%; newspapers dipped 5%; radio dropped 5%; and out of home fell 4%.

Looking at the calendar year to date (January through August), SMI reports U.S. advertising is still up 2.4% versus a year ago.

SMI research comes from major U.S. media agency billing systems, representing about 70% of all U.S. agency spending.