Election date uncertainty costs advertisers $20 million
The likely change to the election date from the originally scheduled September 14 plebiscite is anticipated to cost networks and media companies an estimated $20 million in lost revenue.
Harold Mitchell of Aegis Media
Prime Minister Kevin Rudd is expected to delay the election until November to give his administration time to connect with voters.
Media buyers and networks had already begun planning advertising for an anticipated September 14 poll.
"The uncertainty needs to be taken out of the economy because we are suffering because of it," said Aegis Media Pacific executive chairman Harold Mitchell.
"The ad market has been negative to this point in the year and this has only been the result of the uncertainty the political scene has given us.
"Up until the election period there will be a boost in ad spend but following the election there will be dramatic growth of 3 to 4 per cent."