Ad spending in print magazines during August fell by 28.4 per cent compared to last year, while in printed newspapers the plunge was even harder, with ad spend down by 32.7 per cent.

Print did not suffer alone, digital newspaper spend was down by 35.4 per cent, and digital magazine ad spend fell by 23.5 per cent. Outdoor media agency ad spend dipped by 5.8 per cent. Radio spend was down by 14 per cent, while TV fell by 6.1 per cent. Cinema ad spend was down by 32 per cent.

Research analysts SMI points the finger at the lack of Olympics, and no census ads, two of the bigger advertisers this time last year. Across all sectors, agency ad spend is down 12.5 per cent to $526.5m.

Jane Schulze, managing director, Australia and New Zealand, SMI, says the market is struggling against the high hurdles created by one-off events last year.

“The 2017 year was always going to be tough given the large significant events occurring last year such as the federal election, Rio Olympics and Census.

“As a result, we have only had two months in 2017 in which we have reported year-on-year growth – January and March – but we are hoping a period of more normal comparative periods is now ahead of us.”

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