The Kingdom of Bahrain has witnessed news advertising drop to $43 million, influenced by economic and political conditions in the region and the world, an official says.
Khamis Al Muqla, President of the International Advertisers Association (IAA) Bahrain Chapter, reveals: “Advertising spending in the Kingdom of Bahrain from January to September 2015 amounted to $59m ($43m for local newspapers, $10m for magazines, and $2m for TV).”
Al Muqla adds that advertising spending during the first nine months of 2015 decreased by 11 per cent compared with the same period of 2014, from $66m to $59m, Bahrain-based Al Wasat Newspaper reports.
He points out that TV commercials dropped from $3m to $2m, while newspapers went from $49m to $43m and magazines from $11m to $10m.
He notes: “The drop in advertising in Bahrain happened because of implications of the political and economic situation in the region in particular and the world in general… When governments or companies affected by the revenues, they reduce expenses and that includes spending on advertising.”
“On GCC level, advertising sector dropped by 29 per cent in Kuwait, around 111 per cent in Saudi Arabia, seven per cent in Oman and about six per cent in UAE, while rose in Qatar by six per cent,” al Muqla adds.
He predicts the total advertising expenditure in the Kingdom of Bahrain will not exceed $80m by the end of 2015, compared with an average of $100m that had prevailed during the past four years.
($1 = AED3.67 at the time of publishing)