Banks cut advertising spend
New Zealand banks shaved off their advertising spend in 2014, according to Nielsen rate card values.
They spent a combined $110.3 million, a drop of 7.5% from the previous year.
ASB Bank and Kiwibank made the biggest cuts, -39% and -33% respectively. Meanwhile, TSB Bank increased its spend 28.9%.
However, ANZ continues to be biggest bank advertiser, with $45.5 million spent in 2014 – more than the combined spending of ASB, BNZ and Westpac ($30.5 million).
Banks and their ad agencies:
ANZ – Whybin\TBWA, True
TSB Bank – Special
BNZ – Colenso BBDO
ASB – Saatchi & Saatchi
Kiwibank – Assignment
Westpac – DDB
See 2014's biggest spenders here.