Agora loses in advertising
Polish media giant, Agora released disappointing Q3 results
compared to Q1-2 with a loss of zł.4.1 billion, due to the financial
crisis affecting the advertising market.
According to the company, Agora's Q3 results were mostly affected in the advertising sector, however the company estimated that advertising spending for all media groups grew to zł.5.7 billion (up 15 percent) in comparison to Q1-3 2007.
Broadcast advertising spending reached zł.2.6 billion, meanwhile spending on dailies grew by 4 percent and the internet saw the fastest growth.
Marek Sowa, president of the management board said, "the company's third quarter results reflect a negative impact of ad market slowdown due to global financial crunch and macro instability." He added that "it is hard to estimate 2009 ad market performance."
Sowa also expressed hope that the actual market situation may be favorable for companies such as Agora, which are liquid and have cash at hand to buy valuable assets at reasonable prices.
Source: Reuters
According to the company, Agora's Q3 results were mostly affected in the advertising sector, however the company estimated that advertising spending for all media groups grew to zł.5.7 billion (up 15 percent) in comparison to Q1-3 2007.
Broadcast advertising spending reached zł.2.6 billion, meanwhile spending on dailies grew by 4 percent and the internet saw the fastest growth.
Marek Sowa, president of the management board said, "the company's third quarter results reflect a negative impact of ad market slowdown due to global financial crunch and macro instability." He added that "it is hard to estimate 2009 ad market performance."
Sowa also expressed hope that the actual market situation may be favorable for companies such as Agora, which are liquid and have cash at hand to buy valuable assets at reasonable prices.
Source: Reuters
