Spanish daily newspapers had an aggregate sales volume of 2,377 million euros in 2002, according to the Tercer Libro Blanco de la Prensa Diaria published by Asociación de Editores de Diarios Españoles (AEDE), IESE Institute and consulting firm Deloitte. Circulation sales amounted to 48% of that figure, while advertising sales made up 42.8%. Compared to 2001, daily newspaper profitability increased by 42.3% up to 169.2 million euros. Higher profits were the result of fewer advertising discounts and a lower volume of investment in IT. Juan Luis Cebrián, president of AEDE, noted that sports newspapers and dailies with a circulation under 30,000 had a particularly profitable year. Newspaper advertising accounts for more than a third of the total Spanish advertising market volume. Interestingly, Spain is second among European Union member countries ranked by number of dailies published. Germany publishes the most with 337, Spain publi-shes 132 dailies, and the United Kingdom comes in third with 109. Newspape readership is still very low in Spain, with only 102 readers per 1,000 citizens. The European average is nearly twice as high (201).

…look forward to a prosperous new year.

Zoom Vigia, a study by Zenith Media, forecasts a growth rate of 3.6% in the Spanish advertising market for 2004. The growth rate for 2003 was 0.7% driven mostly by increased advertising on TV and in free dailies. In 2004, Zenith predicts more advertising in the Cosmetics & Beauty, Nutrition, Telecommunications and Finance categories. The wedding of Prince Felipe this spring should have a positive impact on magazine advertising.

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