It is £184,000 cheaper on average to run a TV campaign than last year, when the same campaign would have cost £1.4 million.
Figures from MediaVest for the period of January to August show that campaigns for an adult audience are also 13 per cent down, a saving of £153,000.
However, there are not the same cost savings to be made for youth-targeted brands where the cost of a 400 rating 30-second ad campaign is 8 per cent down. This still leads to a potential saving of £104,000 per campaign on average.
There are potential bargains to be had for last-minute TV campaigns, but evidence suggests that advertisers are sticking with planned campaigns and opting for bottom line savings.
Kevin West, TV buying director at MediaVest, said: "We are expecting costs to be 20 per cent lower year on year by November but advertisers are still not rushing in, most are holding on to their money. At the moment there is some fantastic value and those advertisers which are spending are reaping the benefits."
BT has spent 40 per cent less on TV for the period of January to July 2001. Its spend has fallen from £43 million in 2000 to £25 million in 2001, according to the latest figures from ACNielsen MMS.
Coca-Cola has dropped its spend by nearly a quarter to £15 million from £19.7 million, although COI has upped its spend by £19.4 million to £46 million.