UK media companies ITV, Trinity Mirror and Johnston Press have told The Guardian newspaper that they are seeing a “bottoming out” of the ad revenue decline experienced since the middle of last year.
According to Bank of England governor Mervyn King, the pace of economic decline has slowed down but actual growth is only likely in mid-2010.
Beleaguered broadcaster ITV, after a shaky first quarter, is expecting improved results in the final three months of 2009. It is also anticipating a boost in ad revenue for the 2010 FIFA World Cup South Africa.
Meanwhile, back in South Africa, governor of the Reserve Bank Tito Mboweni told Business Day that there are tentative signs that “the worst of the global recession may be over”. He described South Africa’s situation as “a bit difficult” but said that the economy would likely be improved by the fiscal and monetary stimulus.