TV ad spend 'very short' say network chiefs
Television ad spending in Australia has stayed "very short" following the federal election, it has been reported.
Advertising remains 'very short'
The Australian reported that Seven West Media and Ten Network chief executives Tim Worner and Hamish McLennan addressed a city investment conference in Sydney that was closed to media.
"We haven't seen the rebound we all thought was going to occur straight after the election," Worner said.
"We've got guidance in the market that's low single digits for television, and I haven't seen anything that would make us comfortable in departing from that view."
McLennan added: "We all prudently manage our businesses, but we're always hoping for more."
He added: "One of the things we use is to look at demand for big event programming in the first quarter of the next year. Things like the tennis are very strong.
"It's just a feeling, mate, and it's so dangerous to deal in feelings. I'd much rather deal in bookings."
In May The Drum reported that TV ad spend approached $4 billion in Australia.
Australian dollar image via Shutterstock