A sharp decrease in advertising spending by the mortgage and loan sectors led a 10% slide in spending across the entire financial services industry this year, according to an analysis released Monday by Nielsen.
Mortgage and loan companies, including Web-based companies, combined to spend 62% — or $778 million — less on advertising during the first three quarters of 2008, compared with the same time period last year.
Overall, ad spending by financial services companies dropped from $5.9 billion in Q1-Q3 2007 to $5.3 billion through September of this year, according to Nielsen.  Nielsen’s data excludes …