By Dipo Olowookere
A survey released by a media intelligence and audit agency, P+ Measurement Services, in partnership with MediaTrak, has revealed that in the month of June 2019, some banks in Nigeria spent the sum of N427.8 million on advertisements on various local and foreign media platforms.
In the infographics made available to Business Post on Thursday, the two organisations said this amount was N35.7 million lesser than what was expended in the previous month, May 2019.
According to the survey, 21 commercial banks in the country placed a total of 5,887 adverts on television, radio and print media last month.
It said the most preferred media platforms for placement of the adverts by these banks in the period under review were Ebony Life, DStv, CNN DStv, Supersport Blitz DStv, Classive FM Lagos, Beat FM Lagos, Urban Radio, Thisday, Business Day and The Punch.
A further analysis of the infographics by Business Post showed that a total of 1,325 adverts were placed on television, 4,079 adverts on radio stations, while the print media platforms received 483 adverts from banks in the period under consideration.
The survey further indicated that the banks spent N123.8 million for their adverts on television stations, N25.1 million for radio adverts and N279 million for the print media adverts.
It further stated that the TV media adverts in the banking industry for June saw a decrease in media spend, in contrast to May, with a reduced spend of N26.5 million, while radio media adverts in June also saw a decrease in media spend, compared to May with a reduced spend of N19.6 million and the print media adverts in the banking industry for June saw an increase in media spend, compared to May with an increased spend of N10.4 million.
