Global advertising less than expected in 2008
By Alisa Zykova, Tuesday 7 October 2008 at 22:53 :: Advertising :: #2411 :: rss
Global advertising expenditure will only grow by 4.3 percent this year, as opposed to the predicted 6.6 percent, La Tribune reported Tuesday. Since last year, expenditure has grown to reach US$506.3 billion (€373 billion).
According to a study by media services group ZenithOptimedia, owned by Publicis, the lowest ad spending will be in 2008 and in 2009. Next year, the figure is expected to grow by 4 percent instead of 6.
ZenithOptimedia research showed that developed countries were strongly touched by the global financial crisis and that their ad spend was sliced in two in some places. According to La Tribune, the North American market is expected to grow by 0.9 percent instead of 1.8, while in Western Europe the figure is thought to rise by 1.6 percent instead of 2.6.
Countries in Pacific Asia, aside from Japan, are envisaged to undergo a 10.1 percent increase in ad expenditure this year and by 7.1 per cent in 2009. China, Russia and Brazil are expected to account for 65 percent of total advertising spend in the world between 2007 and 2010, La Tribune reported.
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