• Tuesday, March 05, 2024
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BusinessDay

Media revenue to experience rays of sunshine from political Ads in ‘14

S:Africa-media

Communication expert, Lai Oso of Lagos State University has estimated that large chunk of multi-billion naira expected political campaign budget this year will go to the traditional media.

“As with previous experience, each time elections approach, we know that there will be lots of political campaign advertisement and as the trend has always been, I foresee politicians make do with leading medium of mass communication, television, print and radio, while posters and billboards will complement these traditional media,” he told BusinessDay.

As the media is optimistic of gains from political and World Cup advertisement in 2014, so also is advertising industry hopeful of more creative businesses on political adverts. “This year, the industry will look brighter as politicians who are seeking for elective positions will engage advertisers and public relations practitioners,” according to Tunji Abioye of Fuel Communications.

Believing that 2014 will be a “colourful year for operators in the marketing communication industry,” Abioye is also optimistic that telecom sector “will continue to have its space as far as marketing is concerned, especially with a lot of migration to data and the industry’s attempt to broaden opportunity in the bandwidth space.”

Beyond telecoms and politics, the marketer sees agriculture as another sector that has prospects for a remarkable impact on the marketing communication industry.

Another sector he believes will have positive impact on the marketing communication industry is the electricity sector, noting “I learnt a few players in that sector are already shopping for marketing agencies to partner with them.”

In his view, Akonte Ekine, CEO of Absolute PR, says 2014 is the year before the election year, “it is also the year of the World Cup, CHAN, among other activities. With various sectors/organisations coming out to try and please the consumers with offerings we consider it a great year already, and mind you the CBN cashless policy is really driving the financial institutions and digital firms as well as consumers towards a new lifestyle such that consumer behaviours, consumer media consumption habits, and the fight for share of pocket is entering a new dimension like never before.”

He says there will be plenty of activities around sports/politics/brands and loyalty initiatives to keep the market excited in 2014.

In his assessment, Tony Udenze of Capital Media Agency, agrees that politics will certainly play a dominant, followed by telecommunication. “Also, the banking industry will play a key factor in shaping the industry as well. The industry will likely spend more than it did in 2013,” he says, and “this is because consumer appetite is expanding and the economy is looking up.” The competition will perhaps compel operators to spend more, he notes further.

According to Udenze, 2014 will be a build up on 2013 business performance, as “in 2013, the economy stabilised.”

For Lanre Adisa of Noah’s Ark, who also believes that a couple of agencies will be busy in 2014 considering that it’s election year, says this year will be about engaging clients more than anything else. “What will happen going forward is about supremacy of ideas and good thinking, and clients want good value for their spends and they will look for those agencies,” Adisa says.