Buoyant start to media year

Brand advertising is expected to lead growth in advertising volumes across all media this year.

New Zealand Herald CEO Ken Steinke said this would continue a trend evident in 2003.

He said that while advertising volumes in January were good, they were largely in line with economic forecasts.

"January is historically a very difficult month to predict with summer holidays and various other distractions, but our results are largely in line with our expectations so far," he said.

"Volumes are marginally up on last year and we see no reason why that trend should not continue for the first quarter.

"Areas like employment and brand advertising have been particularly buoyant, continuing the trends of 2003."

An article in the Herald yesterday estimated double-digit revenue growth in newspapers, radio and television in 2003 over 2002.

Steinke said the article also implied that advertising volume in the Herald was up 17 per cent over the previous year in the first three weeks of 2004.

"In fact, that number was misquoted and refers primarily to agency employment revenue.

"Overall, the rise in advertising volume is significantly below that number and we would like to correct any misunderstanding that the article may have caused."