Carat: Russia tops with largest ad expenditure in 2008
By Alisa Zykova, Thursday 28 August 2008 at 19:18 :: Advertising :: #2190 :: rss
The global advertising market has grown by 4.9 percent to US$506.7 billion this year, instead of the predicted six percent, according to Carat. Russia’s advertising market is assumed to become the fastest growing this year, with ad expenditure surging by 22.8 percent to US$11.8 billion, 0.2% higher than expected, Gipp.ru reported.
Carat expected that ad expenditure in the U.S., Great Britain, Spain and China would plunge by five percent, while countries from Eastern Europe, Asia and Latin America should experience double-digit growth.
According to Irina Belozerceva, Director of Public Relations for Aegis Media Russia, the country’s market is still not “saturated”, gipp.ru reported.
Vladimir Evstafiev, vide-president of the Association Of Communications Agencies in Russia is surprised by the Carat study because "it is harder to measure an advertising market accurately when there is a strong political influence. His association predicted that the total ad expenditure in Russia this year would be between US$5.13 and US$5.18 billion, a 20.4% since last year.
According to Carat, India would be ranked on the second, with a 21 percent growth to US$5.2 billion while Mexico follows with a 20 percent rise to US$5.4 billion.
Spain would lag far behind, having a 2.3 percent decline to US$8.5 billion instead of the expected 3.9 percent surge. This may be due to an unhealthy economic environment and a real estate “crisis”, reported gipp.ru.
In the U.S., the growth should drop from the expected 3.8 percent to 2.1 petcent, and the market totals US$192.5 billion. Meanwhile, the Chinese advertising industry should be down from the initially predicted 19.7 percent to 18.2 percent, reaching US$42 billion, which is possibly a result of the economic difficulties brought about after the earthquake in May.
Carat predicted that this year the Internet would outrace the radio and take third place as the most popular advertising medium, after television and the printed press.
Comments
No comment.
Post comment