Advertising research firm ZenithOptimedia forecasts 2013 ad spending will grow by 4.6% in 2013, from an estimated $501.54 billion this year to $524.7 billion. Nearly 30% of the growth will come from the United States, with developing markets to expand by 8% in 2013.
The research firm also reckons that ad spending in Western Europe will rise slightly in 2013 after contracting this year. The forecast for global growth in 2012 has been lowered from 4.3% to 3.8% due to cuts in eurozone ad spending. The company expects a contraction of 3.1% this year compared to spending in 2011.
The rise in ad spending is most pronounced in digital media, where ZenithOptimedia forecasts growth of 15.1% in 2013 compared with 2.3% growth in traditional media.
The company's CEO said:
Advertisers are broadly continuing to invest, despite the global economic concerns and issues. However, they are seeking to ensure that any expenditures are delivering strong return on investment. The US continues to deliver solid growth. This, combined with the growth in developing markets and in digital media, has helped mitigate the drop in eurozone spending.
The press release is available here.
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