Dutch companies will spend less on advertising next year, the Financieele Dagblad reports on Thursday.
The paper says media bureaus, which advise firms on their advertising strategy, expect a downturn in spending because of economic developments.
‘Companies see consumer confidence declining. Everyone expects consumers to spend less,’ Esther Hendriks from media bureau Kobalt, tells the paper.
Newspapers and weekly magazines are expected to feel the pinch first, Marijke van Outerstep from Mindshare is reported as saying. Two weeks ago, the Telegraaf Media Group made a profit warning and said it would cut jobs.
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