Swedish firms increase advertising spend

Swedish firms have started to ease restrictions on advertising budgets, with new figures indicating an 18 percent hike in spending during the first two months of 2010, according to the business daily Dagens Industri.

The tough times for the advertising industry could soon be at an end with companies emerging from the long recession and ready to use advertising to increase market share, the new figures from Sifo indicate.

The survey covers the advertising spend of the 100 highest advertisers in Sweden during January and February 2010. The companies have spent a total of 2.8 billion kronor ($400 million) over the period on television, radio, print and billboard advertising.

“The reason for the increase in the advertising market is, among other things, a reasonably strong stock market and a depressed interest rate, but primarily as many firms are recording strong sales at the moment,” said Niclas Fröberg at media consultancy Tre Kronor Media & Reklam, to the newspaper.

Grocery store chains remain the largest buyers of advertising. The recovery is also noted among firms with home.

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