It said the FIFA World Cup football tournament which will kick-off at the end of the second quarter 2014, is expected to boost the TV segment advertisement expenditure (adex) by about 10 per cent month-on-month.
"Year-to-date February gross adex advanced by double-digit growth year-on-year, underpinned by the strong television and newspaper segments.
"However, these factors do not prompt us to change our bearish sector view as the ongoing subsidy rationalisation, is expected to continue to weigh heavily
on consumer sentiment.
"The upcoming FIFA World Cup and Visit Malaysia Year may to a certain extent, provide some cheer and help cushion the negative impact," it said in a research note today.
The research house said that the sector incumbents seems to have begun offering more discounted rates to advertisers to boost gross adex which may not
translate into better net adex revenue.
Kenanga Research said it was leaving its 2014 total gross adex growth forecast unchanged at 6.8 per cent year-on year.
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