Zenith Optimedia has revised their global ad forecast upward, predicting $448 billion in spending, which is a 3.5 percent rise in spending. This is a positive sign, since the company was predicting only a 0.9 percent gain for 2010 in December, increasing that to 2.2 percent in April.
“We now expect all regions to manage at least some growth this year after a stronger than expected first half, particularly in the U.S. and Western Europe, said Zenith Optimedia, adding that, [There remains a] stark contrast between the slow-growing developed world and fast-paced developing markets.”
The agency noted that North America was mostly responsible for this growth, with an increase of 3 percent and forecasted growth of 1.3 percent for the whole year to $159 billion. Zenith said ad spending is up largely “because consumer confidence and spending has recovered quite strongly in the U.S., despite persistent unemployment.
Zenith Optimedia expects ad spending to continue this upward trend, with 4.5 percent growth in 2011 and 5.3 percent growth in 2012.
Source: Ad Week
