Standard Media Index has just released its March 2021 data, and the total monthly media investment was “way up,” it reports.
In fact, it was up 22% versus March 2020, which was down 13% from a year earlier as the COVID-19 pandemic arrived on North American shores.
The gains in the last month of Q1 2021 lifted this year’s ad investment higher than pre-pandemic levels, SMI notes: March 2021 investment was up 6.3% versus March 2019.
That said, radio broadcasting executives should not get too excited, as Digital continues to lead the growth, rising 27% in March versus last year. Further exacerbating matters for the Radio industry: TV’s “very strong” March, rising 13% versus 2020.
This, SMI says, is the “first real year-over-year increase in over a year,” excluding a 1% increase in August 2020.