A survey released by a media intelligence and audit agency, P+ Measurement Services, in partnership with MediaTrak, has revealed that in the month of October 2019, some banks in Nigeria spent the sum of N697, 509,193 on advertisements on various local and foreign media platforms.
The report made available to Brand Spur Nigeria shows that there was an increase of 20,968,528 in the total Nigerian Banking Industry media adverts spend in October compared to the month of September.
TV media adverts in the Banking industry for October saw an increase in media spend, compared to September with an increased spend of N25,012,183, while Radio media adverts in October saw a decrease in media spend, compared to September with a decreased spend of N22,340,863, and the Print media adverts in the Banking industry for October saw an increase in media spend, compared to September with an increased spend of N18,297,208.
Television, Radio and Print media received NGN 328,423,265, NGN 26,213,094 and NGN 342,872,834 respectively.
According to the survey, commercial banks in the country placed a total of 8,783 adverts on television, radio and print media last month.
It said the most preferred media platforms for placement of the adverts by these banks in the period under review were AM Family DSTV, Ebony Life, Sound City DStv, CNN DStv, Sound City FM, Classic FM, Max FM, ThisDay, BusinessDay and Punch.
Further analysis of the infographics by Brand Spur showed that a total of 4,367 adverts were placed on television, 3,627 adverts on radio stations, while the print media platforms received 589 adverts from banks in the period under consideration.