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Spending on radio advertising plunged HUF 1 billion - about one-third of total spending for radio spots - in January-April because of the economic crisis, business daily Világgazdaság reported.
Ad revenue has fallen so sharply that some of Hungary's biggest broadcasters have had to pay their staff late, the paper said.
Although the ad market as a whole is suffering the effects of the crisis, radio has been hit especially hard as companies concentrate their ad spending in “big” media, such as television. (MTI – Econews)